Even at Major Corporations and Financial Firms, Average Salary for Women Still Only 70% of Men’s [2025 Gender Equality Index]

Average Years of Service and Annual Salary for Women
Average Annual Salary for Women at Top 100 Companies: 74 Million Won
No. 1 SK Telecom at 117 Million Won
Average Annual Salary for Women at 37 Financial Firms: 100 Million Won

Years of service and annual salary are the most intuitive indicators for gauging the level of gender equality at a given company. However, South Korea has the largest gender pay gap among major advanced economies. Even large corporations, which are known for high salaries and favorable working conditions, are no exception. At the 100 largest companies and 37 financial firms included in the Gender Equality Index survey, the average annual salary for women was only about 70% of that for men.

Average Annual Salary for Women at Top 100 Companies: 74 Million Won... 'Salary King' SK Telecom

As of the end of last year, the average annual salary for women at the top 100 domestic companies by revenue was approximately 74 million won, which was 72% of the average for men (102.7 million won). The company with the highest average annual salary for women?dubbed the "female salary king"?was SK Telecom, which reported 117 million won. This was followed by Samsung SDS (116 million won), Kia (114 million won), Naver (113 million won), and Hyundai Motor Company (112 million won). There were 16 companies where the average annual salary for women exceeded 100 million won.

The company with the lowest average annual salary for women was CJ Freshway (30 million won). As the company mainly focuses on group catering, most employees are cooks or nutritionists. By nature, this results in shorter average years of service and lower salaries compared to companies that primarily employ office or production workers. Other distribution and food industry companies such as Kolon Global (35 million won), Emart (39 million won), Lotte Wellfood (40 million won), and Lotte Shopping (41 million won) were also ranked lower for similar reasons.

There were five companies where the gender pay gap ratio was 90% or higher?meaning there was almost no gap between men and women. These were Kumho Tire, Poongsan, Hyundai Glovis, S-1, and KT. However, these companies had significantly fewer female employees than male employees, resulting in greater statistical volatility. Conversely, at Kolon Global, the average annual salary for women was only about half that of men.

The average years of service for women was also only 76% of that for men. However, at 10 companies, women had longer average years of service than men, and at two companies, the average was the same. At three companies?Hyundai Corporation, LX International, and Coway?women’s average years of service were more than 40% higher than those of men. On the other hand, the gap widened in male-dominated industries such as heavy industry and construction. At six companies?HD Hyundai Mipo, HL Mando, Hanon Systems, HDC Hyundai Development Company, Korea Zinc, and Hanwha Ocean?the average years of service for women was less than 40% of that for men.

These industries have historically hired mostly men, and the recent increase in new female hires through gender-equal recruitment may have further widened the gap in years of service. A representative from a heavy industry company explained, "Although we encourage female participation in recruitment and leadership development, the absolute number of women remains low due to the nature of our business."

Average Annual Salary for Women in Financial Sector: 100 Million Won... No. 1 NH Investment & Securities

What about financial companies, which are known for their high salary levels? At the 37 financial firms surveyed, the average annual salary for women was 100 million won, about 25% higher than the average at the top 100 companies. The highest-paying company for women was NH Investment & Securities, with an average of 130 million won.

This was followed by Korea Investment & Securities (128 million won) and Samsung Securities (124 million won). There were 20 financial firms (54%) where the average annual salary for women exceeded 100 million won, more than three times the ratio seen at the top 100 companies (16%). This demonstrates that compensation at financial firms is the highest in the country. DB Insurance (63 million won) and Woori Card (76 million won) were relatively low compared to other financial companies.

However, the gender pay gap ratio was even lower in the financial sector. The average annual salary for women at financial firms was 70.6% of that for men. This is because the average annual salary for men was as high as 145 million won. An annual salary of 140 million won or more places an employee in the top 3% of wage earners, and at 18 companies, the average annual salary for men exceeded this threshold. The largest gender pay gap was at Meritz Securities. Although the average annual salary for women was 110 million won, men received an industry-leading average of 220 million won?double that of women. At DB Insurance, the average annual salary for men was in the 120 million won range, while for women it was only 63 million won, about half as much.

In terms of years of service, there was virtually no gender gap. The average years of service for women was 97.8% of that for men?effectively the same. In fact, at 16 companies, women had longer average years of service than men. Except for BC Card (51.3%), KB Kookmin Card (68.6%), and Hyundai Marine & Fire Insurance (72.9%), all companies exceeded the top 100 company average (76%). Notably, at Hana Securities and Kiwoom Securities, women’s average years of service were 30% longer than those of men. This shows that the gender pay gap cannot simply be explained by differences in years of service. The main reasons cited are the performance-oriented culture in the financial sector, the lack of women in senior positions, and career breaks due to pregnancy and childbirth.

Editor's NoteThe "Asia Economy Gender Equality Index," launched with the aim of assessing the status of women's workforce participation and gender equality efforts at major domestic companies and promoting work-life balance, marks its 10th anniversary this year. The Gender Equality Index has served as a catalyst for spreading a culture of inclusion and coexistence within companies. On the 10th anniversary of its introduction, Asia Economy has refined the evaluation criteria and methods and enhanced the analysis system to improve the objectivity and reliability of the index. As the value of sustainability and diversity grows, we hope the Gender Equality Index will continue to serve as a compass for companies.