South Korea posts record current account surplus of US$52.4b

Seoul

SOUTH Korea on Monday posted a record current account surplus for the first half of this year as slumping oil prices helped offset the impact of shrinking exports.

The current account - the broadest measure of foreign trade in goods and services - showed an unprecedented surplus of US$52.4 billion in the six months to June, according to data from the central Bank of Korea. The surplus for June also hit a record monthly high of US$12.2 billion.