Nearly Half of Big Businesses Have No Female Board Members

  • By Jo Jae-hee

    January 19, 2022 11:25

    The number of female board members at Korean businesses remains low ahead of a looming legal change designed to correct the imbalance.

    Out of 126 companies listed on the Korea Composite Stock Price Index with market caps of more than W2 trillion, 77, or 46 percent, did not have a single female member on their boards of directors as of last September, corporate tracker Leaders Index said on Tuesday (US$1=W1,192).

    A new law set to go into effect in August will prohibit companies from forming boards of directors whose members are all male or all female.

    A total of 90 businesses had 102 registered female board directors. But most of them were outside directors, with only eight being inside directors.

    Park Ju-gun at Leaders Index said, "Under the new law companies will not be punished for having no female board directors. But they are required to reveal the lists of their board members and could end up facing criticism if there is gender inequality in their boards."

    • Copyright © Chosunilbo & Chosun.com
    Previous Next
    All Headlines Back to Top