South Korea current-account surplus hits record in March
Updated
Updated · Bloomberg · May 8
South Korea current-account surplus hits record in March
6 articles · Updated · Bloomberg · May 8
The surplus reached $37.3bn, far above February’s previous record $23.2bn, and extended the country’s run to 35 straight months in surplus.
Bank of Korea data showed the jump was driven by booming semiconductor exports and stronger shipments to Asia and the United States.
The record came even as foreign investors sharply cut holdings of South Korean stocks amid rising tensions in the Middle East.
Amid a record surplus, why did foreign investors trigger a massive capital flight from South Korea?
With its own economy surging, why are Korean investors flocking to American markets?
Can South Korea’s tech boom survive a crippling energy crisis from the closed Strait of Hormuz?
Semiconductor AI Boom and BTS Concert Tourism Propel South Korea to Unprecedented $37.33 Billion Surplus in Q1 2026
Overview
In early 2026, South Korea achieved record economic surpluses driven by a surge in semiconductor exports fueled by soaring global demand for AI-related chips. This export boom, supported by strong shipments to China, the US, and Southeast Asia, propelled the goods account surplus and overall current-account surplus to historic highs. Simultaneously, a tourism revival sparked by BTS concerts led to the first services account surplus in over a decade. However, geopolitical tensions in the Middle East raised energy costs and disrupted supply chains, causing foreign investors to sell domestic stocks and challenging sectors like automobile exports. Policymakers responded with targeted fiscal support and cautious monetary tightening to balance growth and inflation amid these uncertainties.