South Korea Achieves Significant Current Account Surplus

In May, South Korea reported a current account surplus exceeding $10 billion, marking the 25th consecutive month of surplus and the third-largest for May on record. This remarkable achievement underscores the country's robust economic health, driven by strong semiconductor exports and a decrease in imports.

Goods Balance Surplus Highlights Export Strength

The goods balance surplus reached $10.66 billion, significantly higher than the previous month and the same period last year. Despite a slight decline in exports, the reduction in imports, particularly in raw materials like coal and petroleum products, contributed to this surplus.

Services and Primary Income Balances Show Mixed Results

The services balance recorded a deficit of $2.28 billion, worsened by increased overseas travel during the May holidays. Conversely, the primary income balance turned to a surplus of $2.15 billion, as seasonal dividend payments to foreigners ceased.

Financial Account Reflects Increased Investments

Net assets in the financial account grew by $6.71 billion, with notable increases in both domestic and foreign investments in securities, especially bonds.