President Lee Jae-myung stated on the 25th that South Korea's Q2 current account surplus exceeded the combined surpluses of Germany and Japan, calling it 'a great wave of opportunity for our economy.' South Korea recorded a $116.63 billion surplus in Q2, surpassing Germany's $52.28 billion and Japan's $50.62 billion, which totaled $102.89 billion combined. The president credited semiconductor export competitiveness and emphasized converting macroeconomic growth into investment, jobs, and income gains.
South Korea Records $116.63 Billion Q2 Current Account Surplus
According to International Monetary Fund (IMF) statistics compiled in the Bank of Korea Economic Statistics System, South Korea's current account surplus reached $116.63 billion in Q2 this year. Germany recorded a surplus of $52.28 billion during the same period, while Japan posted $50.62 billion. The combined total of the two countries amounted to $102.89 billion, which was $13.74 billion less than South Korea's figure.
South Korea Ranks Second Globally After China in Q2 Surplus
Among 36 major countries with confirmed Q2 statistics, South Korea recorded the second-largest current account surplus after China's $193.72 billion. This marks the first time since Q1 1996 — when statistics for South Korea, Germany, and Japan were all available — that South Korea's surplus exceeded the combined total of Germany and Japan.
President Lee Emphasizes Translating Growth into National Living Standards
President Lee wrote on X (formerly Twitter) on the 25th, quoting former U.S. President John F. Kennedy's phrase 'a rising tide lifts all boats.' He stated that South Korea is moving beyond a country that follows advanced nations to become a leading country that drives global economic trends. The president emphasized that industrial competitiveness centered on semiconductors — a core industry in the AI era — must expand into growth momentum across all sectors.
President Lee stressed that the key is ensuring this wave of growth becomes a force that changes the lives of all citizens. He wrote that economic vitality must lead to more investment, jobs, better income, and improved quality of life. He added that the reason economic growth is necessary is to improve people's lives, and pledged to strengthen the foundation for growth so that South Korea's leap forward translates into a better tomorrow for every citizen.
FAQ
What was South Korea's current account surplus in Q2 this year?
South Korea recorded a current account surplus of $116.63 billion in Q2 this year, according to IMF statistics compiled in the Bank of Korea Economic Statistics System.
How did South Korea's Q2 surplus compare to Germany and Japan?
South Korea's Q2 surplus of $116.63 billion exceeded the combined surpluses of Germany ($52.28 billion) and Japan ($50.62 billion), which totaled $102.89 billion. This is the first time since Q1 1996 that South Korea's surplus surpassed the Germany-Japan combined total.
Why did President Lee Jae-myung highlight this economic data?
President Lee stated on the 25th that the surplus reflects South Korea's semiconductor-centered export competitiveness and represents a significant economic opportunity. He emphasized the need to convert this macroeconomic achievement into tangible improvements in investment, employment, and household income.
