South Korea's Current Account Surplus with US Dips for First Time in Six Years
Quick Look
- South Korea's current account surplus with the US decreased to $111.42 billion last year, marking the first decline in six years, primarily due to a wider service account deficit.
- Surpluses with China and Japan also widened.
AI-generated summary
SEOUL, June 19 (Yonhap) -- South Korea posted a drop in its current account surplus with the United States last year for the first time in six years due to a widened service account deficit, while its current account deficit with China and Japan widened, central bank data showed Friday.
South Korea's current account surplus with the U.S. totaled US$111.42 billion last year, down from an all-time high of $116.97 billion in 2024, according to the Bank of Korea (BOK).
The goods account surplus rose 2.53 percent on-year to $111.98 billion last year, on the back of a rise in semiconductors and smartphones.
But South Korea's service account deficit with the U.S. widened to $14.62 billion last year from the previous year's deficit of $8.88 billion, the central bank said.
The central bank data showed that South Korea reported a current account deficit of $25.32 billion with China last year, widening 7.97 percent from the previous year.
With Japan, South Korea saw its current account deficit widen by 13 percent on-year to $20.3 billion last year.
The country's current account surplus with the European Union rose 9.9 percent on-year last year to $24.42 billion, driven by strong exports, according to the BOK.
The country also posted a $71.84 billion current account surplus with Southeast Asian nations last year, up 13.24 percent from a year earlier, while it recorded a $49.75 billion deficit with the Middle East, down 26.8 percent over the cited period.
Overall, South Korea's current account surplus widened to $123 billion in 2025, up sharply from $99.97 billion a year earlier, the data showed.
