The Korea Herald


S. Korean subsidiaries of foreign banks, online giants make top 10 list for gender equality

By Choi Jae-hee

Published : Oct. 29, 2020 - 17:02

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South Korean subsidiaries of foreign banking groups, online giants and daily necessities makers made the annual list for the 10 best companies working toward gender equality among the country’s 500 largest firms, data showed Thursday. 

This year’s awarded firms comprised foreign-based lenders Citibank Korea and Standard Chartered Bank Korea, leading local internet firms Naver and Kakao, cosmetics giant Amorepacific, outdoor clothing manufacturer Yongone Corp., LG Group apparel affiliate LF, clothing manufacturer Hansae, the country’s largest cinema chain CJ CGV and Hanmi Pharmaceutical, according to business data tracker CEO Score Daily.

The research agency measured various conditions of gender balance at the country’s 500 largest companies in six assessment categories with each having different total scores, including employment (20), the number of years worked (20), salary (20), executive positions (20), registered executive positions (10) and senior posts (10). The evaluation was based on industry data and a survey of related female and male employees.

Citibank Korea, the Korean subsidiary of Citigroup, received perfect scores in two categories -- executive positions and senior posts. The lender currently has a total of seven female executives and four women holding a position of executive director or above, marking 70 percent and 80 percent of the corresponding figures of men, respectively, data showed. 

SC Bank Korea, wholly owned by London-based Standard Chartered Bank, gained 10 out of 10 points in registered executive positions and a near-perfect score in executive positions with 19.3 points. The bank was also awarded 18.7 points in employment, as the number of its female workers totaled 2,525, far surpassing male workers at 1,731. 

The nation’s top internet portal operator Naver posted high scores of 17 points and 10 points, respectively in the number of years worked and executive positions categories. Naver’s female employees were found to have worked 6.4 years on average as of this year, longer than men at 5.7 years. Meanwhile, Kakao received the highest scores in executive positions and registered executive positions, respectively. The internet company has two female executives and its female employees worked five years on average, matching male employees. 

In addition, Amorepacific obtained 20 out of 20 points in executive positions, with the number of years worked and salary recording 13.7 points and 11.3 points, respectively. The number of its female executives came to 17, some 32.7 percent compared to its 52 male executives. Yongone Corp. got perfect scores in employment, executive positions, registered executive positions and senior posts. Meanwhile, Hanmi Pharmaceutical was the sole drug provider making the top 10 list for gender equality, recording high scores of 19 and 15.7 points in the executive positions and salary sections, respectively.

A majority of the selected firms saw the percentage of high-level female employees reach 25 percent or more and were recognized for in-company mentoring programs to nurture female leaders and gender equality committees as well as work-life balance systems such as child care leave, which prevent women from suffering career breaks due to marriage and childbirth, officials said. 

By Choi Jae-hee (