Seoul: South Korea posted its largest-ever monthly current account surplus in March, driven by strong exports amid booming overseas demand for semiconductors, central bank data showed Friday. The current account surplus totaled US$37.33 billion in March, up from $23.19 billion in February, according to the data from the Bank of Korea (BOK). It marked the highest monthly surplus ever, surpassing the previous record set in February.

According to Yonhap News Agency, South Korea has reported a current account surplus every month since May 2023, extending its winning streak to 35 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 U.S.-Iran war has hardly affected goods exports and imports in March," said Kim Young-hwan of the BOK's financial statistics department. "The impact of the war will be seen in April, but it is not strong enough to change the overall trend." He noted that the prolonged current account surplus trend is expected to continue beyond April, with the pace of chip exports and the duration of Middle East tensions being key factors.

The goods account posted a surplus of $35.07 billion in March, as exports surged 56.9 percent on-year to a record $94.32 billion, while imports added 17.4 percent to about $59.24 billion. Exports of information technology (IT) products soared 111.7 percent from a year earlier, including a 149.8 percent surge in chip shipments and a 167.5 percent rise in computer peripherals.

The services account recorded a deficit of $1.29 billion in March due mainly to an increase in the payment of other business services. The travel account logged a surplus of $140 million in March, marking the first surplus in more than 11 years since November 2014, thanks to a surge in foreign tourists attending BTS' historic comeback concerts held in Seoul and Goyang. "Thanks to high-profile K-pop concerts such as BTS' shows, monthly arrivals rose sharply in March," the BOK official said, adding that more than 2 million foreigners visited South Korea during the month. "The monthly figure has been rising since the beginning of the year. It does not appear to be a short-lived phenomenon."

The primary income account, which includes wages of foreign workers, as well as dividend and interest income from abroad, posted a surplus of $3.58 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 $36.99 billion in March, up sharply from a $22.8 billion rise the previous month. Overseas direct investment by South Korean residents rose by $8.89 billion, while foreign direct investment in South Korea increased $3.77 billion. In securities investment, local investors increased their overseas holdings, mainly in stocks, by $4 billion in March, while foreign investors reduced their investments by $34.04 billion, the latest findings showed.