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Financial News: South Korea Posts $6.38 Billion Current Account Surplus

South Korea Posts $6.38 Billion Current Account Surplus In June

08/05/2019 - 19:45:00 (RTTNews)

(RTTNews) - South Korea saw a current account surplus of $6.38 billion in June, the Bank of Korea said on Tuesday - up from $4.95 billion in May.

For the first half of 2019, South Korea had a current account surplus of $21.77 billion.

The goods account surplus narrowed to $6.27 billion, compared to $9.54 billion in June.

The services account deficit narrowed to $2.09 billion, down from $2.42 billion a year earlier, owing to improvements in the transport and travel accounts.

The primary income account surplus was $2.77 billion, up from $0.92 billion a year earlier, in line with an improvement in the income on equity account.

The secondary income account saw a $0.57 billion deficit.

In the financial account, the country had a $6.52 billion increase in net assets in June and a $23.47 billion increase for the first half of the year.

Direct investment assets grew by $3.04 billion, and direct investment liabilities increased by $1.58 billion.

There was a $8.60 billion increase in portfolio investment assets during the month, and a $9.51 billion increase in portfolio investment liabilities.

Financial derivatives posted a net increase of $2.32 billion.

In terms of other investments, there was an increase of $4.67 billion in assets and a decrease of $0.42 billion in liabilities.

Reserve assets decreased by $1.44 billion.

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