Data released by the Bank of Korea on Thursday showed that South Korea's current account surplus in August hit the second-highest level on record, mainly driven by strong export growth fueled by the global semiconductor industry upcycle.

According to the Bank of Korea, the total current account surplus in August stood at $46.1 billion, an increase of $4 billion from the previous month. Compared with the same period last year, the figure surged by $36.2 billion. This is the second-highest reading after the record $49.73 billion posted in June this year.

The Bank of Korea stated that the goods trade account recorded a surplus of $46.81 billion in August; exports for the month grew 82.1% year-on-year to $104.8 billion, while imports rose 23.8% to $57.99 billion.

The Bank of Korea added that the primary income account posted a surplus of $1.92 billion, driven by increased equity investment income.

Since May 2023, South Korea has recorded a current account surplus every month, and August marks the 40th consecutive month of surplus for the account.

In 2025, South Korea recorded a record annual surplus of $123.05 billion, surpassing the historical high of $105.1 billion set in 2015.