South Korea achieved the world’s second-largest current account surplus among major economies in the second quarter, according to President Lee Jae Myung. Data from the International Monetary Fund, available through the Bank of Korea, showed that South Korea’s surplus reached US$116.63 billion between April and June, trailing only China, which recorded a surplus of US$193.72 billion.
President Lee highlighted this economic milestone as a sign of South Korea’s strengthening position in the global economy. He noted that the country’s current account surplus exceeded the combined figures of Germany and Japan, marking a significant shift from South Korea’s historical role of following more advanced economies. Lee emphasized that South Korea is now increasingly contributing to the global economic landscape’s direction.
A key factor in South Korea’s economic success is the international performance of its companies, particularly in the semiconductor industry. This sector is crucial for the development of artificial intelligence technologies, which are becoming increasingly important in the global market.
Looking ahead, President Lee urged South Korea to capitalize on its achievements by enhancing industrial competitiveness and boosting the country’s potential economic growth rate. He called for continued efforts to solidify South Korea’s role as a major player in the global economy.