The percentage of executives at banks, or 56 in total, was the lowest at 0.4 percent. (Yonhap)
SEOUL, Nov. 13 (Korea Bizwire) — Recent data has confirmed that it is almost impossible for bankers to reach executive positions.
According to the Financial Supervisory Service’s Financial Statistics and Information System, out of 230,595 employees working in the country’s financial sector, including banks and insurers, as of the end of June, only 2,969 were executives, or 1.3 percent.
By financial sector, the percentage of executives at banks, or 56 in total, was the lowest at 0.4 percent.
Among the large banks, NH Nonghyup Bank had the lowest percentage of executives. Of the more than 16,000 executives and employees, 0.1 percent or 22 were executives.
Comparing the percentage of executives at banks and large companies can confirm the gap. For example, 1,052 executives work for Samsung Electronics, or 1.0 percent of its 105,055 employees.
Hyundai Motor’s 0.7 percent or 461 employees, LG Electronics’ 0.8 percent, or 332 employees, and SK hynix’s 0.7 percent share of executives are higher than banks’ shares.
Even so, the percentage of executives at credit card companies, insurers and securities firms is higher than that of banks.
In the case of banks, outside directors, consisting of outside personnel, account for about one-third to half of all executives.
Considering this, it is almost impossible for bank employees to achieve promotion to an executive position.
D. M. Park (dmpark@koreabizwire.com)
