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S.Korea current account surplus highest in 4 years

SEOUL, Oct 29 (Reuters) - South Korea's current account surplus jumped to $2.35 billion in September, driven by brisk exports, hitting its highest level for more than four years, the central bank said on Wednesday.

The Bank of Korea said in a statement that September's current account surplus climbed for a fifth consecutive month on the back of a healthier trade surplus, helped by robust exports of automobiles, semiconductors and chemical products.

The monthly figure, the highest since July, 1999, follows a $1.39 billion surplus in August, when the current account tripled on strong exports, a rare bright spot in a recession-hit economy.

"Exports rose to a record high in September, up 23.4 percent to $17.2 billion," Lee In-gyu, a Bank of Korea official, told Reuters.

The trade surplus rose to $3.22 billion in September from $2.37 billion in August, Lee added.

An improvement in September's current account was also attributed to a shrinking service account deficit, helped by a rise in freight charge income and a fall in the travel deficit.

In the first nine months of this year, the country posted a $4.97 billion surplus, against $4.12 billion in the same period last year.

The current account, the broadest measure of foreign trade, includes all trade of goods and services as well as capital transaction and non-business transfers such as donations and aid.