South Korea is strengthening its foothold in the global economy, marking a significant achievement by recording the world’s second-largest current account surplus among major economies in the second quarter of the year. President Lee Jae Myung announced that the country posted a surplus of US$116.63 billion between April and June, as reported by the International Monetary Fund and available through the Bank of Korea. This figure places South Korea behind only China, which recorded a surplus of US$193.72 billion.
President Lee emphasized that South Korea is transitioning from its traditional role of following advanced economies to actively shaping the global economic landscape. He pointed out that the country’s surplus exceeded the combined figures of Germany and Japan, showcasing South Korea’s growing influence and economic strength.
The success of South Korean companies, particularly in the semiconductor industry, has been a major contributor to this surplus. The semiconductor sector plays a crucial role in advancing artificial intelligence technologies, further cementing South Korea’s position as a leader in this field.
Looking ahead, President Lee called for continued efforts to build on these achievements by enhancing industrial competitiveness and increasing the country’s potential economic growth rate. The president’s remarks highlight a strategic vision for South Korea to leverage its current economic momentum for sustained growth and influence in the global arena.