South Korea’s current-account surplus reached $233.1 billion in the first seven months of the year, nearly twice last year’s full-year total of $123.1 billion and about 3.9 times the $59.8 billion recorded in the same period a year earlier, preliminary Bank of Korea data show. The run was propelled by a semiconductor-led export boom: July alone posted a $42.1 billion surplus, the second largest on record after June’s $49.7 billion and the 39th consecutive monthly surplus. Goods exports rose 65.3% year on year to about $100.5 billion, with semiconductor shipments up 176.3% and computer peripherals up 344.5%, while the goods surplus hit $40.4 billion. Through the first half, Korea’s $191 billion surplus ranked second only to China among major economies the central bank compared, ahead of Germany, Japan and Taiwan. The Bank of Korea last month raised its full-year surplus forecast to $450 billion from $250 billion; officials said an average near $43 billion a month over the remaining five months would meet that path. Dividend income from overseas chip affiliates and a $14.3 billion record monthly rise in foreign-exchange reserves to $442.3 billion in August reinforced the external buffer, though outbound securities investment of about $13.6 billion in July helped explain why the won has not strengthened as fast as the surplus alone might imply. Weaker consumer-goods imports and a temporary travel-related services deficit remained the main soft spots, while earlier market focus on U.S. rate expectations and possible targeted semiconductor tariffs still frames currency and trade risks.