On Jan., Korea's current account surplus was tallied at $13.26 billion, the fifth largest on record. Semiconductor exports surged 102%, driving the surplus.
According to the balance of payments (provisional) released by the Bank of Korea on the 6th, the current account posted a $13.26 billion surplus in Jan. It was the fifth largest on record after Dec. 2025 ($18.7 billion), Sept. 2025 ($14.22 billion), Jun. 2025 ($13.97 billion), and Jun. 2024 ($13.43 billion).
The key factor behind the wider surplus was an expansion in the goods balance (exports minus imports). The current account includes various balances such as services, travel, and dividends, among which the goods balance—similar in nature to the trade balance—has the largest weight. The goods balance in Jan. recorded a $15.17 billion surplus, the third largest after Dec. 2025 ($18.85 billion) and Sept. 2025 ($15.43 billion).
Export growth centered on information technology (IT) led the goods surplus. Exports in Jan. (customs basis) rose 30% from a year earlier to $65.51 billion. This marked a second straight month of increase after Dec. last year (+13.1%). By item, semiconductor exports jumped 102.5%, while wireless communication devices (+89.7%) and computer peripherals (+82.4%) also continued to rise. By region, exports to Southeast Asia (+59.9%), China (+46.8%), and the United States (+29.4%) increased.
Imports rose 7% from a year earlier to $50.34 billion. They also increased for a second straight month. Raw material imports fell 0.3% on lower energy prices, but consumer goods and capital goods imports rose 27.4% and 21.6%, respectively. By item, petroleum products (-18.7%) and crude oil (-12.8%) fell sharply, while gold (+323.7%), semiconductor manufacturing equipment (+61.7%), passenger cars (+28.7%), and semiconductors (+22.4%) increased.
The services balance, which includes travel, transportation, and intellectual property royalties, posted a $3.8 billion deficit. Among these, the travel balance showed a $1.74 billion deficit. The primary income account, reflecting flows of wages, dividends, and interest, recorded a $2.72 billion surplus. The secondary income account posted an $830 million deficit.
Net worth in the financial account, which shows capital inflows and outflows, increased by $5.63 billion. Of this, direct investment increased by $1.7 billion and securities investment by $8.78 billion. In direct investment, residents' outward direct investment rose by $7.04 billion, while nonresidents' inward direct investment in the domestic market increased by $5.34 billion. In securities investment, residents' overseas investment rose by $13.46 billion, while nonresidents' investment in the domestic market increased by $4.69 billion.