Seoul: South Korea recorded its largest-ever monthly current account surplus in February, driven by a semiconductor upcycle and strong exports, central bank data showed Wednesday. The current account surplus totaled US$23.19 billion in February, up sharply from $13.26 billion in January, according to the data from the Bank of Korea (BOK).

According to Yonhap News Agency, this marked the highest monthly surplus ever, surpassing the previous record of $18.7 billion set in December 2025. South Korea has reported a current account surplus every month since May 2023, extending its winning streak to 34 consecutive months, the second longest in history. In 2025, the country posted its largest annual surplus on record at $123.05 billion, exceeding the previous high of $105.1 billion set in 2015.

The goods account posted a surplus of $23.36 billion in February, as exports jumped 29.9 percent on-year to $70.37 billion, while imports added 4 percent to about $47 billion. Chip exports soared 157.9 percent from a year earlier, while shipments of IT products and computer peripherals increased by 103.3 percent and 183.6 percent, respectively.

The services account recorded a deficit of $1.86 billion in February due mainly to an increase in overseas travel demand. The primary income account, which includes wages of foreign workers, as well as dividend and interest income from abroad, posted a surplus of $2.48 billion, driven primarily by dividend earnings. The secondary income account recorded a $790 million deficit.

In the financial account, the country's net assets increased by $22.8 billion in February, up sharply from a $5.63 billion rise the previous month. Overseas direct investment by South Korean residents rose by $3.81 billion, while foreign direct investment in South Korea increased $940 million. In securities investment, local investors increased their overseas holdings, mainly in stocks, by $8.64 billion in February, while foreign investors reduced their investments by $11.94 billion, the data showed.