The Bank of Korea (BOK) announced Wednesday that the nation achieved its largest-ever monthly current account surplus, marking a dramatic increase from January’s $13.26 billion figure. This remarkable performance underscores Korea’s strengthening position in global markets, particularly within the semiconductor sector.
The February current account surplus represents Korea’s 34th consecutive month of positive trade balance since May 2023, establishing the second-longest winning streak in the nation’s economic history. The previous monthly record of $18.7 billion, set in December 2025, was decisively surpassed by this latest achievement.
Semiconductor Boom Drives Export Growth
Korea’s goods account posted a record-high surplus of $23.36 billion in February, fuelled by exceptional export performance. Total exports surged 29.9% year-on-year to $70.37 billion, whilst imports grew modestly by 4% to approximately $47 billion.
The semiconductor sector emerged as the primary driver behind this exceptional current account surplus. Chip exports soared by an extraordinary 157.9% compared to the previous year, reflecting the global technology upcycle and Korea’s dominant market position. Information technology products and computer peripherals also demonstrated robust growth, increasing by 103.3% and 183.6% respectively.
This technological renaissance has positioned Korea advantageously within global supply chains, particularly as artificial intelligence and advanced computing applications drive demand for sophisticated semiconductor solutions.
Services Account Shows Mixed Performance
Despite the impressive goods account performance, Korea’s services account recorded a deficit of $1.86 billion in February. This deficit primarily reflected increased overseas travel demand, indicating recovering consumer confidence and normalising international mobility patterns.
The primary income account contributed positively to the overall current account surplus, posting a $2.48 billion surplus driven predominantly by dividend earnings. Conversely, the secondary income account showed a $790 million deficit.
Financial Account Dynamics
Korea’s net assets increased substantially by $22.8 billion in February, representing a significant rise from the previous month’s $5.63 billion increase. This growth reflected both increased overseas investment by Korean residents and continued foreign interest in Korean markets.
Overseas direct investment by Korean residents rose by $3.81 billion, whilst foreign direct investment in Korea increased by $940 million. In securities investment, local investors expanded their overseas holdings by $8.64 billion, primarily in equities, while foreign investors reduced their Korean investments by $11.94 billion.
The sustained current account surplus trend demonstrates Korea’s evolving economic structure and export competitiveness. With 2025 recording Korea’s largest annual surplus of $123.05 billion—exceeding the previous 2015 record of $105.1 billion—the nation continues strengthening its external financial position amid global economic uncertainties.
