The number of female independent directors at South Korea’s top 100 companies continued to grow in 2024. (Image courtesy of Kobiz Media)
SEOUL, Jan. 22 (Korea Bizwire) — The number of female independent directors at South Korea’s top 100 companies continued to grow in 2024, a report showed Wednesday.
The number of female outside directors at the top 100 firms by sales came to 100 as of end-September, accounting for 24.2 percent of the total 454, according to the report by local headhunting firm Unico Search.
In 2020, only 35 women served as outside directors, representing 7.9 percent of the total. The rate has shown steady growth since, rising to 21 percent in 2022.
Despite the growth, the report noted that many companies have been meeting only the minimum legal requirement for board gender diversity, signaling a growth plateau.
Since August 2022, South Korean law has required companies with assets exceeding 2 trillion won (US$1.4 billion) to avoid forming their board with only a particular gender.
Last year, 70 of the top 100 companies had only one female outside director, meeting the legal minimum and reflecting limited gender diversity, the report noted.
Unico Search underscored the need for stronger commitments and cultural shifts toward gender diversity at the leadership level in South Korean companies.
“To build a transparent and trustworthy governance structure, it is essential to nurture and support women with experience and expertise across various industries and roles,” a company official said.
(Yonhap)
