Korea extends current account surplus in July amid strong exports
8 Articles
8 Articles
July Current Account Surplus of $42.08 Billion... Record High for Month Driven by Semiconductor Boom
(Seoul = Yonhap News) Reporter Han Ji-hoon = South Korea's current account balance in July recorded its largest ever surplus for the month, driven by the continued strong performance of semiconductor exports.
Driven by strong exports of information technology (IT) items, including semiconductors, South Korea recorded a current account surplus exceeding $40 billion in international trade in July, following June. According to the "Preliminary Balance of Payments Statistics for July" released by the Bank of Korea on the 4th, the current account surplus for July was tallied at $42.08 billion. This is a historical record.
South Korea's foreign exchange reserves recorded $442.28 billion in August, an increase of $14.3 billion, as dollars flowed into the market due to a surge in semiconductor exports. This is the highest level since statistics began in 1971. The main causes were foreign currency deposits by banks in the Bank of Korea and an increase in the valuation of foreign currency assets due to the decline in the value of the dollar.
Korea's Current Account Surplus Jumps to Second-Larget Globally
Korea’s current account surplus in July stood at $42.08 billion,marking the second-largest surplus on record. (Yonhap) As the strong export trend continued, the current account surplus for July recorded the second-largest ever. The current account surplus for the first half of this year from January to June ranked second in the world, following China. According to the preliminary balance of payments statistics released by the Bank of Korea on Se…
[Digital Daily Reporter Kim Nam-gyu] With exports, centered on semiconductors, increasing significantly, South Korea's current account recorded a surplus exceeding $42 billion last July. This figure is more than three times that of the same month last year. According to the ‘July 2026 Balance of Payments (Provisional)’ released by the Bank of Korea on the 4th, the current account recorded a surplus of $42.08 billion in July. This is an increase…
Coverage Details
Bias Distribution
- 50% of the sources lean Left, 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
