South Korea’s current-account surplus surged to a record $37.3 billion in March,
according to Bank of Korea data, marking the 35th consecutive monthly surplus.
The goods balance recorded a $35.1 billion surplus as exports hit an all-time
high of $94.3 billion, driven mainly by semiconductor and computer-related
shipments, with chip exports rising nearly 150% on a customs-clearance basis.
Petroleum and chemical exports also increased due to higher oil prices. Imports
rose at the fastest pace in 15 years. The financial account showed a $37 billion
net asset increase, while foreign investors cut holdings of Korean equities by a
record $29.3 billion amid Middle East tensions and concerns over memory-chip
demand.
