South Korea’s Current Account Surplus Surges to Record on Chips

South Korea’s current-account surplus surged to another record in March, driven by a surge in semiconductor exports and stronger shipments across Asia and the US, even as foreign investors sharply reduced holdings of domestic stocks amid rising Middle East tensions.

The current-account surplus reached $37.3 billion in March, the largest monthly surplus on record, according to Bank of Korea data released Friday. The figure far exceeded the previous record of $23.2 billion set in February, and marked the country’s 35th straight month of current-account surpluses, the second-longest streak of surpluses since the 2000s, the BOK said.