Executives in the nation’s top 10 conglomerates serve their position for about five years and usually retire before they hit 55, a report said Wednesday.
According to the report released by CEO Score, the average retirement age of executives in the big firms was 54.5, and average tenure in the top office was 5.2 years.
The business news site specializing in chaebol surveyed 271 executives in the big firms who retired and sold their treasury stocks in 2015.
The conglomerate with the youngest retirement age was LG Group at 51.4 years, a 5.7-year difference with Hyundai Heavy Industries (57.1 years old). However, LG executives had the longest average tenure with 8.1 years in office. The company with the shortest tenure was POSCO with 3.4 years.
About 82 percent (222) of the respondents retired in their 50s, while 9.2 percent (25) retired in their 40s and 8.9 percent (24) in their 60s.
