September 27, 2022

South Korea’s women representatives representing small and large businesses rose by 366,000 over the past five years. The record outnumbered male presidents in private educational services and lodging and food services.

According to Statistics Korea, the number of businesses at the end of 2020 in the nation came to 6.01 million. And among it about 2.2 million, or 36.7 percent had female presidents, this involved chief executives in the case of conglomerates.

It has been predicted that the 2 in 5 will be women among all businesses in the coming years.

The state-funded agency mentioned that compared to five years earlier in 2015, the tally for female presidents increased by 366,000.

Women in businesses in the country –

• A significant portion of women in terms of business heads was seen in the sector of private educational institutes, 59.8 percent of which were led by women in 2020.
• Among lodging and food services businesses in 2020, their portion was 58.4 percent.
• In other forms of services and associations the portion was 47.3 percent.
• Female presidents in the wholesale-retail sector accounted for 41.7 percent.
• As of last year, in terms of employees at businesses more than 2 in 5 employees were women, 10.4 million of the total 24.8 million.
• The portion of female employees over the corresponding five-year period rose almost 1 percentage point to 42.1 percent, rising to total 1.02 million.
• In the health and social welfare sector, women employee portion was quite high at 81.2 percent.
• In lodging and food services at 61.3 percent and private educational services at 65 percent.
While it is also estimated that a high portion of women could also be posted among real estate agencies and bakeries in the services industry per se.

In the meantime, the tally for businesses in 2020 increased by more than 900,000, total to 6.01 million, up from 5.1 million in 2015.

According to government data, last year about 49.2 percent of businesses were headquartered in the Greater Seoul area , Seoul, Gyeonggi Province and Incheon, compared to 48.4 percent in 2015.