South Korea has achieved a significant milestone in the global economy by recording the world’s second-largest current account surplus among major economies for the second quarter of the year. According to South Korean President Lee Jae Myung, this achievement highlights the country’s growing influence on the global economic stage. Data from the International Monetary Fund, accessible via the Bank of Korea, revealed that South Korea’s current account surplus reached USD 116.63 billion between April and June. This figure places South Korea just behind China, which reported a surplus of USD 193.72 billion during the same period.
President Lee emphasized that South Korea’s economic performance is no longer just about keeping pace with advanced economies but is now actively shaping the global economic landscape. Notably, South Korea’s surplus exceeded the combined surpluses of Germany and Japan, two of the world’s largest economies.
A key factor driving South Korea’s economic success is the international performance of its companies, especially in the semiconductor industry. This sector is crucial in the development and advancement of artificial intelligence technologies, where South Korea has established a strong foothold.
President Lee called for continued efforts to build on this economic momentum. He urged the country to enhance industrial competitiveness and focus on increasing its potential economic growth rate. These measures, he believes, will help sustain and expand South Korea’s economic achievements on the world stage.