70% of conglomerate units hold no female executive

The executive boards of a majority of the Korean conglomerates continue to be dominated by male members despite the rising proportion of female workers over the past few decades.

According to corporate assessment site CEO Score, seven out of 10 affiliates of the 30 biggest business groups had a male-only board of directors.

About 73 percent, or 210 of the 284 surveyed units, of the 30 conglomerates did not have a single female executive on their board of directors as of the first quarter of 2015.

Further, eight groups, including Hyundai Heavy Industries, S-Oil, Daewoo Engineering & Construction and LS, did not have any female executives in their collective 35 affiliates.

Women were also scarce at some metallic materials or steelmaking-oriented groups. Dongbu and POSCO had 7.7 percent affiliates “holding one female executive or more out of the total units.” Each had had only one business unit out of 13.

GS posted 13.3 percent (two of 15), SK with 18.8 percent (six of 32) and Kumho Asiana with 20 percent (one of five).

Hyundai Motor Group and KT also had female executives in less than one out of every four units with 22.2 percent and 23.1 percent, respectively. The percentage also stood below 30 percent at Hanwha, Hyosung and Lotte.

Hyundai Group, which is led by chairwoman Hyun Jeong-eun, topped the list with 80 percent (four of five), followed by CJ with 63.3 percent, KCC with 50 percent and Hanjin with 50 percent.

Samsung Group ranked sixth with 48 percent as 12 of its 25 units have one female executive or more, followed by LG with 43.8 percent and Mirae Asset with 40 percent.

By total payroll, the portion of female executives out of the combined female workers at the 30 groups stayed at 0.077 percent, or 195 of 253,069, a slide from 0.084 percent a year earlier.

South Korea is on a par with the average in Asia when it comes to the proportion of female workers in its total labor force, but female senior executives are far and few between.

Given that female workers in the conglomerate sector are estimated to have surpassed 20 percent, the chances for them being promoted to the post of an executive are less than 8 percent, said a spokesman of CEO Score.

Data from headhunting firm Heidrick & Struggles was quoted by a newspaper as saying that South Korea ranked at the bottom in the share of female executives among top management in major Asian countries.

By Kim Yon-se (kys@heraldcorp.com)