Despite Increase in Female Executives at Large Corporations... 73% of Top 200 Listed Companies Still Have '0' Women Directors

CEO Score, Comprehensive Survey of 1,441 Registered Executives as of Last September
65 Female Executives... 4.5% of Total
Increased 1.7 Times in One Year but Still Low Compared to 30% in the U.S.

Source=CEO Score

[Asia Economy Reporter Kim Heung-soon] Last year, the number of female executives among the registered executives of Korea's top 200 listed companies increased by 1.7 times compared to the previous year, but it was still low compared to the United States. The number of female CEOs among these companies was limited to four, and 73% of the top 200 listed companies had no female executives at all.

On the occasion of 'International Women's Day' on the 8th, the corporate evaluation site CEO Score conducted a full survey of 1,441 registered executives of the top 200 listed companies among Korea's top 500 companies as of the end of September last year and announced these results on the 7th.

According to CEO Score, the number of female registered executives in these companies was 65, accounting for 4.5% of the total. This increased by 67% from 39 in the same period last year, and the proportion rose by 1.8 percentage points from 2.7% in 2019.

Although the number of female executives increased, the gap was significant compared to the United States. According to Forbes, which selected the top 200 U.S. companies, the number of female registered executives was 730 out of a total of 2,435, accounting for 30%.

Among Korea's top 200 listed companies, 146 companies, or 73%, had no female registered executives. Although this is a decrease from 168 companies (84%) the previous year, it contrasts with the fact that all of the top 200 U.S. companies have at least one female registered executive.

The number of female CEOs among registered executives was 11 across 19 industries in the U.S., while in Korea, it was limited to four: Lee Boo-jin, President of Hotel Shilla; Kim Sun-hee, President of Maeil Dairies; Han Sung-sook, President of Naver; and Cho Hee-sun, CEO of Hanse Industrial.

However, in Korea, the number of female executives is expected to continue to increase next year due to amendments to the Capital Market Act. According to the amendment, from August next year, listed companies with assets exceeding 2 trillion won cannot compose their board of directors solely based on one gender. Accordingly, these companies must have at least one female registered executive by July next year. Already, major business groups including Samsung Electronics, Hyundai Motor, SK, and LG are accelerating the appointment of female outside directors or the reappointment of existing directors.