South Korea Posts Record Tourism Surplus Since Pandemic on K-Culture Boom
Key Takeaways
- •South Korea's travel account posted a $596.6 million surplus in June 2024, reversing from an $846.8 million deficit recorded in the same month a year prior.
- •The June surplus marks the second-highest monthly tourism balance figure since October 2008.
- •South Korea's tourism account had been in continuous deficit for 72 months starting in March 2020 before returning to surplus in March of this year.
- •Total tourism revenue in June reached $2.78 billion, with foreign tourists spending an average of $1,397 per person.
- •An academic expert recommended that the government expand tourism policy focus to include smaller rural cities to help maintain the travel account surplus over the long term.

South Korea's tourism balance recorded its highest surplus since the COVID-19 pandemic began, driven by the global popularity of Korean pop culture, according to industry data released Sunday by the Korea Tourism Organization.
The country's travel account posted a surplus of $596.6 million in June, a sharp reversal from the same month a year earlier, when it registered a deficit of $846.8 million. The June surplus ranks as the second-highest monthly figure since October 2008, when the tourism sector recorded a surplus of $661.5 million.
South Korea's tourism balance had remained in deficit for 72 consecutive months starting in March 2020, as international travel collapsed during the pandemic. The account swung back to surplus in March of this year and has continued to post positive figures since then, the agency noted. The turnaround reflects a broader recovery underway across Asia-Pacific tourism markets, though South Korea's surplus stands out as its cultural exports — from K-pop and K-drama to beauty products and cuisine — continue to draw visitors well beyond the immediate region.
Total tourism revenue in June reached $2.78 billion, with foreign tourists spending an average of $1,397 per person, according to the data. South Korea welcomed roughly 17.5 million foreign visitors in 2019, its pre-pandemic peak, and arrivals have been climbing steadily since border restrictions were lifted.
"This is due to South Korea's international image reaching an all-time high across various fields — from K-pop to our popular culture and cuisine," said Kim Nam-jo, a professor at Hanyang University.
Kim recommended that the government broaden its tourism policy focus beyond major destinations such as Seoul and Busan to include smaller cities in rural areas, which would help sustain the travel account surplus over the long term. (Yonhap)