In a testament to its manufacturing prowess, South Korea logged a $13.26 billion current account surplus in January—the fifth biggest monthly haul ever—thanks to semiconductor dominance and export momentum, data from the Bank of Korea reveals.
The figure, though lower than December’s $18.7 billion peak, represented a staggering 397.4% surge from the prior year, cementing its place in the record books. Since May 2023, the country has strung together 33 straight surplus months, the second-longest run on record.
Breaking it down, the goods balance shone brightest at $15.17 billion, ranking third all-time. Exports hit $65.51 billion (up 30% YoY), outpacing imports at $50.34 billion (up 7%). Chips led with 102.5% growth; autos followed at 19%.
Offsets came from a $3.8 billion services shortfall, driven by travel spending abroad. Primary income delivered a $2.72 billion boost via dividends and interest, while secondary income lagged with an $830 million gap.
On the financial front, net assets rose $5.63 billion. Direct investment outflows hit $7.04 billion from Koreans abroad, inflows $5.34 billion. Securities saw Koreans buy $13.46 billion in foreign equities; foreigners added $4.69 billion domestically.
Contextualizing the big picture, 2025’s annual surplus of $123.05 billion smashed the 2015 record of $105.1 billion. This data highlights South Korea’s tech export edge, but vulnerabilities in services and potential trade headwinds warrant vigilance. Economists eye continued semiconductor tailwinds to propel the economy through 2026.
