SEOUL: South Korea’s current account surplus jumped to a record in September, fuelled by booming semiconductor exports as global investment in artificial intelligence (AI) continues to stoke demand for the country’s technology products.
The current account surplus widened to US$61.5bil from US$46.1bil in August, according to Bank of Korea data released yesterday.
The figure surpassed the previous record of US$49.7bil set in June, marking the first time the monthly surplus exceeded US$60bil, the bank said.
The record highlights how South Korea’s economy has become increasingly reliant on the global AI boom, with soaring demand for advanced memory chips powering exports, and helping drive growth. — Bloomberg