“Thanks to strong exports of semiconductors, mobile phones, and automobiles, South Korea continued its current account surplus for the fifth consecutive month.”
“According to preliminary statistics on the international balance of payments released by the Bank of Korea, the current account balance in September this year was recorded at a surplus of $11.12 billion, approximately 15.58 trillion Korean won.”
“The current account, which recorded a deficit ($290 million) in April due to an increase in dividends to foreigners after a year, has been in surplus for five consecutive months since May.”
“The surplus amount was the largest in three months since June ($12.56 billion) and 1.7 times more than the previous August ($6.52 billion).”
“Up until September, the accumulated current account surplus was $64.64 billion, an increase of $47.89 billion compared to the same period last year ($16.75 billion).”
“Breaking down the current account in September, the goods account registered a surplus of $10.67 billion, maintaining a surplus for 18 consecutive months since April last year.”
“Exports in September stood at $61.67 billion, up by 9.9% year-on-year, marking a rebound for the first time in a year and two months since October last year, continuing a year-long growth trend.”
“By item, exports increased in semiconductors (+36.7%), information and communication devices (+30.4%), and passenger cars (+6.4%). By region, exports showed strong performance in Southeast Asia (+16.2%), China (+6.3%), the European Union (+5.1%), and the United States (+3.4%).”
“Imports increased by 4.9% to $51 billion, with capital goods imports, including semiconductor manufacturing equipment (+62.1%), semiconductors (+26.5%), and precision instruments (+7.6%), rising by 17.6%.”