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 second quarter.

The country's current account surplus reached US$116.63 billion in the April-June period, trailing only China's $193.72 billion, according to International Monetary Fund (IMF) data available on the Bank of Korea's Economic Statistics System.

"The Republic of Korea is now moving beyond being a country that follows advanced economies to become a leading nation shaping the global economic landscape," Lee wrote in a social media post, referring to South Korea by its official name.

Lee noted that South Korea's current account surplus exceeded the combined surpluses of Germany and Japan.

He also highlighted the achievements of South Korean companies in global markets, particularly in semiconductors, a key industry in the age of artificial intelligence (AI).

Lee called for the country to capitalize on these achievements to strengthen its industrial competitiveness and raise its potential growth rate.