President Lee Jae-myung said on the 25th that South Korea should capitalize on data showing the country posted the second-largest current account surplus among major economies in the second quarter, calling for stronger industrial competitiveness and a higher potential growth rate.
Lee made the remarks in a post on X, formerly Twitter, sharing a news report. According to the report, South Korea's current account surplus reached $116.63 billion in the second quarter, the second largest among 36 major economies after China's $193.72 billion.
"As President John F. Kennedy said, 'a rising tide lifts all boats,' and a great wave of opportunity is now rising for our economy as well," Lee wrote, noting that the country's second-quarter current account surplus exceeded the combined surpluses of Germany and Japan. He described the result as "an achievement our companies have delivered in global markets, including in semiconductors, the core industry of the AI era."
"South Korea is now moving beyond being a country that follows advanced economies to become a leading nation that drives the flow of the global economy," he said. "What matters is making this wave of growth a force that changes the lives of all citizens." He added that economic vitality "must lead to more investment and jobs, better incomes and more comfortable lives."
"The reason we need economic growth is to make people's lives better," Lee said. "We will build a stronger foundation for growth so that South Korea's leap forward leads to a better tomorrow for each and every citizen."