AI chip surge lifts South Korea to record surplus, behind only China

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South Korea earned US$116.63 billion more from the world than it spent in the second quarter of this year – exceeding the combined current account surpluses of Germany and Japan for the first time on record. The current account measures a country’s trade and income with the world. It counts goods and services sold abroad, money earned on overseas investments and payments flowing the other way. A surplus means more foreign currency is coming in than going out. Surging demand for semiconductors...