Korea's Q2 Current Account Surplus Tops Germany, Japan Combined on Chip Boom
Semiconductor exports and overseas investment income lifted Korea’s surplus to second globally, with the IMF saying it ranked behind China among 36 major economies.
- South Korea's current account surplus in the second quarter exceeded the combined total of Germany and Japan for the first time since 1996, marking a historic economic milestone.
- Booming semiconductor exports fueled by global demand for memory chips used in servers pushed the surplus to record highs, while expanding overseas investments boosted dividend and interest income.
- Korea posted a $116.6 billion surplus in the second quarter, ranking second globally behind China, while Germany and Japan combined for $102.9 billion—$13.7 billion less than Korea.
- The BOK recently raised its annual surplus forecast to exceed $450 billion last week, citing strong semiconductor exports; The International Monetary Fund projects the surplus will remain above $400 billion through 2028.
- Kang Sung-jin, a professor of economics at Korea University, warned against relying solely on the semiconductor boom, urging the government and private sector to "restructure industries" toward higher-value-added products.
14 Articles
14 Articles
In the second quarter of this year, South Korea's current account surplus surpassed the combined total of Germany and Japan, ranking second in the world. While strong semiconductor exports drove growth, the high dependence on exports has raised concerns about economic instability due to changes in the semiconductor market and the need for industrial structure diversification.
South Korea's current account surplus in the second quarter of this year surpassed the combined surpluses of manufacturing powerhouses Germany and Japan. According to current account statistics for major countries released by the International Monetary Fund (IMF) on the Bank of Korea's economic statistics system on the 25th, Korea's surplus for the second quarter of this year was recorded at $116.63 billion.
$116.6 billion in Q2 this year, ranking second after China… Annual surplus expected to approach $500 billion. IMF: "Korea's surplus growth this year ranks first among 190 countries… Surplus-to-GDP ratio at an all-time high." Experts: "Must prepare for semiconductor slowdown"… Government: "Services to support domestic demand."
For the first time in history, South Korea's current account surplus in the second quarter of this year exceeded the combined total of manufacturing powerhouses Germany and Japan.
Lee says S. Korea emerging as global economic leader on record current account surplus
SEOUL, Oct. 25 (Yonhap) -- President Lee Jae Myung said Sunday that South Korea has emerged as a leading player in the global economy, citing that the country posted the world's second-largest current account surplus among major economies in the
Coverage Details
Bias Distribution
- 40% of the sources lean Left, 40% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
