For the full year, the country’s current account surplus soared to $99.04 billion, more than tripling from $32.82 billion in 2023 and exceeding the central bank’s projection of $90 billion.
The goods account surplus widened to $10.43 billion in December from $8.66 billion a year earlier, as exports rose 6.6 percent to $63.3 billion, outpacing a 4.2 percent increase in imports, which reached $52.87 billion.
The growth in exports was driven by a sharp increase in semiconductor shipments, which jumped 30.6 percent, while information and communications technology products climbed 37 percent.
Meanwhile, exports of passenger vehicles, petroleum products, machinery, and precision equipment remained subdued but showed signs of recovery, contributing to the overall export gains.
The latest data highlights South Korea’s economic resilience despite political uncertainty and challenges in the global technology sector under President Trump’s second administration.
Exports to major trading partners showed broad-based growth, with shipments to Southeast Asia rising 15.4 percent, the European Union increasing 15.2 percent, and exports to China climbing 8.6 percent.
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