South Korea posted an unadjusted current account surplus of $3.61 billion in January, the Bank of Korea said on Thursday - remaining in the black for the24th consecutive month.

The headline figure is down sharply from the $6.43 billion in December.

The financial account saw a net outflow of $2.18 billion, down from $6.39 billion in the previous month - while the capital account was roughly unchanged.

The goods account surplus narrowed to $3.32 billion in January, from 5.69 billion in the previous month.

The services account shifted to a deficit of $0.59 billion from its surplus of $0.44 billion the previous month as the surplus on the transport and construction narrowed.

The primary income account surplus widened to $0.69 billion, from $0.42 billion the previous month, owing to an increase in interest income, the bank said.

The secondary income account saw a surplus of $0.18 billion, while the financial account had a net outflow of $2.18 billion - down considerably from $6.39 billion a month earlier.

Direct investment shifted to a net inflow of $1.13 billion from a net outflow of $1.51 billion in December, as inward foreign direct investment increased sharply, the bank said.

Portfolio investment saw a net outflow of $4.27 billion, down from $5.16 billion the previous month, due to the shift to a net inflow of foreign investors' securities investment. Financial derivatives had a net inflow of $0.16 billion.

Other investment recorded a net inflow of $3.70 billion, up from $0.17 billion the previous month owing to increased borrowing by domestic financial institutions. Reserve assets increased by $2.91 billion.

RTTNews