SEOUL: South Korea posted its largest monthly current account surplus on record in February, as a sharp rise in semiconductor shipments and other technology exports drove a steep increase in the goods balance. Bank of Korea data showed the current account surplus reached $23.19 billion in February, up from $13.26 billion in January and above the previous monthly high set in December 2025. The result underscored the strength of the country’s export sector at the start of 2026.
The February surplus was powered mainly by the goods account, which recorded a surplus of $23.36 billion. Exports rose 29.9% from a year earlier to $70.37 billion, while imports increased 4.0% to about $47.0 billion. The gap between the two reflected a strong rebound in external demand for Korea’s technology products, especially semiconductors, which remain one of the country’s most important export categories and a key driver of trade performance.
The latest balance of payments figures also showed that the services account remained in deficit, posting a shortfall of $1.86 billion in February. The primary income account, which includes wages and investment income, recorded a surplus of $2.48 billion, while the secondary income account showed a deficit of $790 million. Taken together, those components left the overall external balance firmly in surplus, with the goods account more than offsetting continued weakness in services and the outflow recorded under secondary income.
Export Surge Driven By Technology
Trade data for February pointed to an especially strong performance in the technology sector. Semiconductor exports jumped 157.9% from a year earlier, while information technology products rose 103.3% and computer peripherals climbed 183.6%. The scale of those gains highlighted how heavily the monthly result was tied to the chip cycle and related electronics demand. South Korea’s export profile, long centered on high value manufacturing, gave the country a significant lift as overseas orders accelerated in those categories.
The February trade performance was also notable because exports reached a record level for the month, despite fewer working days. Official trade data released earlier had shown average daily exports rising 49.3%, reinforcing the strength of the underlying momentum in outbound shipments. That rise in daily export volume helped explain how the current account surplus expanded so sharply in a single month, even as imports continued to increase and services remained under pressure.
Current Account Reaches New High
The record current account surplus comes as South Korea’s economy continues to rely heavily on external demand, particularly in semiconductors and advanced manufacturing. The February data offered one of the clearest signs yet that export income was improving rapidly at the start of the year. With the financial account showing net assets increasing by $22.80 billion in February, the figures also indicated that the country’s broader external position remained solid alongside the jump in the current account balance.
For policymakers and markets, the February outcome provided a fresh benchmark for the scale of Korea’s export recovery, with the current account, goods trade and technology shipments all showing outsized gains in the same month. The figures marked a significant step up from January and set a new monthly record for the external surplus, reflecting the central role of semiconductors in the country’s balance of payments. The data placed South Korea among the clearest beneficiaries of the latest upswing in global technology demand. – By Content Syndication Services.