(2nd LD) S. Korea posts largest-ever current account surplus in Feb. on semiconductor upcycle | Yonhap News Agency

## Summary
OK (ATTN: RECASTS headline with more details; ADDS comments, more info throughout, additional photo) SEOUL, April 8 (Yonhap) -- 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). Containers are stacked at a port in the city of Pyeongtaek, about 60 kilometers south of Seoul, on April 1, 2026. (Yonhap) The goods account posted a surplus of $23.36 billion in February, a record high figure, as exports jumped 29.9 percent on-year to $70.37 billion, while imports added 4 percent to about $47 billion. As for the impact of the war in the Middle East, Yoo said rising global oil prices could begin to affect imports starting April. "There was no significant change in energy imports in March, as a substantial portion of crude oil imports from the Middle East was based on contracts signed before the conflict," Yoo said. "As solid semiconductor exports continued, the current account surplus for March is expected to set a new record high." A sharp rise in oil prices led to a marked increase in petroleum product exports, the official added, noting that the impact of geopolitical tensions on the current account would depend on the outcome of negotiations between the United States and Iran.

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OK
(ATTN: RECASTS headline with more details; ADDS comments, more info throughout, additional photo)
SEOUL, April 8 (Yonhap) -- 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).
It 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.
"It was the first time that the monthly current account surplus exceeded $20 billion. Despite fewer working days in February, the goods account surplus expanded to a record high thanks to record-breaking semiconductor exports," Yoo Sung-wook, head of the BOK's financial statistics department, said.
Containers are stacked at a port in the city of Pyeongtaek, about 60 kilometers south of Seoul, on April 1, 2026. (Yonhap)
The goods account posted a surplus of $23.36 billion in February, a record high figure, 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 BOK noted that average daily semiconductor exports in February stood at $1.33 billion, exceeding the daily average of $480 million recorded during the previous semiconductor supercycle years of 2018 and 2022.
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 to take profits from recent gains, the data showed.
As for the impact of the war in the Middle East, Yoo said rising global oil prices could begin to affect imports starting April.
"There was no significant change in energy imports in March, as a substantial portion of crude oil imports from the Middle East was based on contracts signed before the conflict," Yoo said. "As solid semiconductor exports continued, the current account surplus for March is expected to set a new record high."
A sharp rise in oil prices led to a marked increase in petroleum product exports, the official added, noting that the impact of geopolitical tensions on the current account would depend on the outcome of negotiations between the United States and Iran.
HBM4 and HBM4E are displayed at Samsung Electronics Co.'s annual general meeting of shareholders held in Suwon, Gyeonggi Province, on March 18, 2026. (Yonhap)
graceoh@yna.co.kr
(END)
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## Expert Analysis

### Merits
- OK (ATTN: RECASTS headline with more details; ADDS comments, more info throughout, additional photo) SEOUL, April 8 (Yonhap) -- 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.
- As for the impact of the war in the Middle East, Yoo said rising global oil prices could begin to affect imports starting April. "There was no significant change in energy imports in March, as a substantial portion of crude oil imports from the Middle East was based on contracts signed before the conflict," Yoo said. "As solid semiconductor exports continued, the current account surplus for March is expected to set a new record high." A sharp rise in oil prices led to a marked increase in petroleum product exports, the official added, noting that the impact of geopolitical tensions on the current account would depend on the outcome of negotiations between the United States and Iran.

### Areas for Consideration
- Korea's monthly exports top US$80 bln mark for 1st time in March Foreign reserves log sharpest drop in about year in March amid weaker won: BOK Keywords #current account Articles with issue keywords Most Liked Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel (LEAD) BTS tops Billboard albums chart for 2nd week with 'Arirang,' a first in K-pop BTS to drop 'Come Over,' exclusive new track on 'Arirang' LP Lee voices hope for peace in Easter message 'Beef' Season 2 deepens Korean narrative, casts A-listers Youn Yuh-jung, Song Kang-ho Most Saved Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel 'Beef' Season 2 deepens Korean narrative, casts A-listers Youn Yuh-jung, Song Kang-ho (3rd LD) Lee says S.

### Implications
- 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. "It was the first time that the monthly current account surplus exceeded $20 billion.
- As for the impact of the war in the Middle East, Yoo said rising global oil prices could begin to affect imports starting April. "There was no significant change in energy imports in March, as a substantial portion of crude oil imports from the Middle East was based on contracts signed before the conflict," Yoo said. "As solid semiconductor exports continued, the current account surplus for March is expected to set a new record high." A sharp rise in oil prices led to a marked increase in petroleum product exports, the official added, noting that the impact of geopolitical tensions on the current account would depend on the outcome of negotiations between the United States and Iran.
- Korea's monthly exports top US$80 bln mark for 1st time in March Foreign reserves log sharpest drop in about year in March amid weaker won: BOK Keywords #current account Articles with issue keywords Most Liked Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel (LEAD) BTS tops Billboard albums chart for 2nd week with 'Arirang,' a first in K-pop BTS to drop 'Come Over,' exclusive new track on 'Arirang' LP Lee voices hope for peace in Easter message 'Beef' Season 2 deepens Korean narrative, casts A-listers Youn Yuh-jung, Song Kang-ho Most Saved Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel 'Beef' Season 2 deepens Korean narrative, casts A-listers Youn Yuh-jung, Song Kang-ho (3rd LD) Lee says S.
- Korea is 'clear warning' (LEAD) Top presidential aide to visit Kazakhstan, Oman, Saudi Arabia to discuss securing crude oil, naphtha N.

### Expert Commentary
This article covers korea, account, billion topics. Notable strengths include discussion of korea. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 855.