SEOUL, November 05 (AJP) - South Korea’s red-hot chip export streak pushed its current-account surplus above the $60 billion-dollar milestone in September even as foreign equity outflows hit a record, central bank data showed Thursday.
The surplus expanded to 61.46 billion dollars from 46.11 billion dollars in August and 14.22 billion dollars a year earlier, surpassing the previous record of 49.73 billion dollars set in June, according to preliminary data from the Bank of Korea (BOK).
It was the first monthly surplus above 60 billion dollars and the fourth consecutive month above 40 billion dollars, extending the country’s current-account surplus streak to 41 months — the second-longest run since 2000. The cumulative surplus for the first nine months reached 340.66 billion dollars, more than four times the 83.89 billion dollars recorded a year earlier.
Casting a shadow over the otherwise extraordinary run was a “Sell Korea” spree. Foreign investors sold a net 13.74 billion dollars worth of Korean equities in September, about 29 times the 470 million dollars in August — mostly in semiconductor bellwethers, according to the BOK.
The composition of foreign portfolio outflows shifted from the previous month, when investors reduced their holdings of Korean debt securities by 4.38 billion dollars. In September, foreign bond holdings declined by just 70 million dollars.
Korean residents’ overseas portfolio investments reached 16.63 billion dollars, the second-largest monthly increase on record after 17.29 billion dollars in October 2025, and slightly above August’s 16.60 billion dollars.
Overseas bond investment rose to a record 6.72 billion dollars, surpassing the previous month’s 6.44 billion dollars, as the BOK cited improved investment appeal in foreign debt securities. Overseas equity investment remained high at 9.91 billion dollars, although it eased from 10.15 billion dollars in August.
Net portfolio assets consequently increased by 30.44 billion dollars, up from 21.44 billion dollars in August. The broader financial account recorded a record 54.34 billion-dollar increase in net assets, compared with 40.23 billion dollars a month earlier.
The goods account remained the principal driver of the current-account surplus, posting a record 62.75 billion-dollar surplus, up from 46.81 billion dollars in August.
Goods exports surged 92.4 percent from a year earlier to 130.72 billion dollars, exceeding 100 billion dollars for a fourth consecutive month. Imports increased 29.4 percent to 67.97 billion dollars.
On a customs basis, IT exports surged 195.8 percent from a year earlier, led by a 260.3 percent jump in semiconductor shipments, while non-IT exports increased 13.4 percent. Passenger car exports, however, declined 5.6 percent.
Capital goods imports rose 42.3 percent from a year earlier, including a 49.2 percent increase in semiconductor manufacturing equipment, while raw material imports increased 21.3 percent, led partly by higher crude oil and gas purchases.
The services deficit widened to 3.35 billion dollars from 1.68 billion dollars in August, the largest shortfall since January, as transport earnings weakened and deficits in intellectual property and other business services widened. The travel deficit remained unchanged at 770 million dollars.
The primary income surplus widened to 2.65 billion dollars from 1.92 billion dollars, supported by a recovery in dividend income following seasonal dividend payments in August. The dividend income surplus rose to 2.24 billion dollars from 1.18 billion dollars.
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