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Financial News: South Korea June Current Account Surplus $6.88 Billion

South Korea June Current Account Surplus $6.88 Billion

08/05/2020 - 19:45:00 (RTTNews)

(RTTNews) - South Korea posted a current account surplus of $6.88 billion in June, the Bank of Korea said on Thursday - up from $2.29 billion in May.

The goods account surplus narrowed to $5.87 billion, compared to $6.27 billion in June 2019.

The services account deficit decreased to $1.26 billion, from $2.14 billion dollars in June last year, the bank said, owing to an improvement in the travel account.

The primary income account surplus narrowed from $2.07 billion the year previously to $1.74 billion in June of this year, in line with a decrease in the income from dividends.

The secondary income account recorded a $0.53 billion surplus.

Looking at the financial account, net assets increased by $7.15 billion during June, totaling $17.89 billion over the first half of the year.

Direct investment assets increased by $3.03 billion, and direct investment liabilities increased by $0.67 billion.

There was a $4.76 billion increase in portfolio investment assets during the month, and a $4.26 billion increase in portfolio investment liabilities.

Financial derivatives posted a net increase of $0.77 billion.

In terms of other investment, there was a decrease of $5.97 billion in assets and a decrease of $7.78 billion in liabilities.

Reserve assets increased by $1.70 billion.

For the first half of 2020, South Korea had a current account surplus of $19.17 billion.

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