The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Revenge rises as key theme in K-dramas

  • 3

    Zebra captured after escaping from Seoul zoo

  • 5

    Sexual assaults by Korean diplomats continue despite zero-tolerance policy

  • 7

    Outback Steakhouse sees sales soar as it opens stores in large shopping malls

  • 9

    Samsung, SK avoid worst-case scenario as US 'guardrails' are less stringent than feared

  • 11

    Korean pension fund hit by overseas banking crisis

  • 13

    Childbirths sink 6% to fresh low in January

  • 15

    Campaign launched to promote equal treatment for multicultural families

  • 17

    Sandstorm from China forecast to push up fine dust levels in Korea

  • 19

    INTERVIEWRetired FSC chief finds inspiration exploring Koreans' ancestral roots

  • 2

    Consumers choose to travel abroad over purchasing luxury goods

  • 4

    Korean firms balk at donating to fund compensating victims of Japan's forced labor

  • 6

    World water day

  • 8

    Main opposition leader indicted, faces calls to resign

  • 10

    Jeon Jong-seo discusses her first Hollywood role in 'Mona Lisa and Blood Moon'

  • 12

    Apple working on expanding Apple Pay service in Korea: senior executive

  • 14

    INTERVIEWKorean adoptee in Germany reunites with birth family after 42 years

  • 16

    Investment banks compete for HMM sale advisory roles

  • 18

    Hyundai Heavy achieves world's first 200 million BHP milestone

  • 20

    Opposition leader indicted over development corruption scandal

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
Fri, March 24, 2023 | 05:19
Companies
Companies desperate for female board members
Posted : 2022-01-19 14:53
Updated : 2022-01-19 16:34
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
gettyimagesbank
gettyimagesbank

Related regulations to go into effect in August

By Kim Bo-eun

A deadline is looming for Korean companies to add female members to their boards, but about half of the firms subject to the regulation still fall short of the requirement, data shows.

The revised Capital Markets Act going into effect in August applies to listed companies with at least 2 trillion won ($1.67 billion) in assets. According to corporate tracker Leaders Index, among the 168 companies subject to the regulation, 68 firms, or 46 percent, did not have any female board members as of the third quarter of last year.

This is still a significant improvement, however, from the same quarter of 2020 when 116 companies did not have any female members on their boards.

However, data shows that most of the women on company boards are outside members. Among the 102 female board members at 90 companies, only nine were from their respective firms.

Companies with female board members from within their organization include Naver, CJ CheilJedang, Hotel Shilla, Samsung SDI, Daesang, Netmarble, Lotte Chilsung, Kumho Tire and Daishin Securities.

The companies with female board members not from outside were mostly those owned by conglomerates, such as in the case of Hotel Shilla CEO Lee Boo-jin, the daughter of the late Samsung Electronics Chairman Lee Kun-hee.

In other cases, some female board members were foreign nationals, such as Tencent Vice President Piao Yanli who is the outside director of Netmarble.

Outside directors were mostly from academia at 45.7 percent, followed by those from the government at 18.5 percent and from the corporate sector at 17.4 percent.

The companies with no gender diversity on their boards will likely have a hard time securing female members, given the limited pool of candidates.

This is considered a structural problem, given a large proportion of women leave the workforce for childbirth and childcare, resulting in a lack of female representation at the executive level in corporations. Women also constitute only a small number of senior-level positions in the government.

While the companies will have to find female figures to sit on their boards, it is also unclear how much influence they would be able to wield, given most positions will be filled from outside of the company.

"Under current circumstances, there is definitely a lack of qualified candidates," said Oh Il-sun, director of Korea CXO Institute, a corporate tracker. "But efforts are ongoing to train female professionals in the corporate sector as well as academia, which will enable circumstances to improve in the coming years."

Oh added, "While including one female board member may not immediately have the intended effect, the introduction of the law is a meaningful starting point that will likely lead to positive changes."


Emailbkim@koreatimes.co.kr Article ListMore articles by this reporter
 
Top 10 Stories
1[INTERVIEW] Korean adoptee in Germany reunites with birth family after 42 years INTERVIEWKorean adoptee in Germany reunites with birth family after 42 years
2Retailers rush to adopt Apple Pay system Retailers rush to adopt Apple Pay system
3Will exempting foreign nannies from minimum wage boost Korea's birth rate? Will exempting foreign nannies from minimum wage boost Korea's birth rate?
4[INTERVIEW] Expert pitches Laotian rural reform to solve NK's chronic food shortages INTERVIEWExpert pitches Laotian rural reform to solve NK's chronic food shortages
5Daughter of North Korean dictator seen wearing $1,900 Dior jacket Daughter of North Korean dictator seen wearing $1,900 Dior jacket
6[INTERVIEW] Forbes-listed entrepreneur pursues partnerships with Samsung, LG, SK to help Ukraine INTERVIEWForbes-listed entrepreneur pursues partnerships with Samsung, LG, SK to help Ukraine
7Will Apple Pay launch boost local iPhone sales? Will Apple Pay launch boost local iPhone sales?
8[INTERVIEW] 'Welcome to world of art therapy' INTERVIEW'Welcome to world of art therapy'
9Indonesian students advise Korean bank on entering Indonesian market Indonesian students advise Korean bank on entering Indonesian market
10Korea to start mass production of KF-21 in 2024 Korea to start mass production of KF-21 in 2024
Top 5 Entertainment News
1Revenge rises as key theme in K-dramas Revenge rises as key theme in K-dramas
2Jeon Jong-seo discusses her first Hollywood role in 'Mona Lisa and Blood Moon' Jeon Jong-seo discusses her first Hollywood role in 'Mona Lisa and Blood Moon'
3SF9's Jaeyoon starts mandatory military service SF9's Jaeyoon starts mandatory military service
4Yoo Yeon-seok threatens to sue people spreading accusations about him Yoo Yeon-seok threatens to sue people spreading accusations about him
5Lee Som, Ahn Jae-hong to play married couple in Tving's new series Lee Som, Ahn Jae-hong to play married couple in Tving's new series
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group