Samsung Group has appointed Kim Kyung-Ah as president and CEO of Samsung Bioepis Co., marking the first time a woman not part of its founding family has held this position in its 86-year history. Kim, a doctor in neurotoxicology from Johns Hopkins University, has over two decades of experience in biologic development and will oversee product developments. Her promotion comes as part of Samsung’s management reshuffle announced Wednesday.
Despite women being equally educated in South Korea, female executives account for just 10% of the board at 269 large listed companies in 2023, according to Seoul-based consultancy CEOScore.
The proportion of women has been increasing gradually since 2019, with the increase coming after the government revising a law in 2020 that prohibits a large listed company from having an all-male or all-female board.
The lack of female leaders in South Korean companies reflects widespread gender inequality in the country, which has the highest wage gap among developed countries. Kim became the second woman to lead a Samsung affiliate, following Lee Boo-jin, granddaughter of late Samsung founder Lee Byung-chull and CEO of Hotel Shilla Co., who was the first woman to run a Samsung subsidiary.
Samsung was founded in 1938 and expanded into various sectors, including transportation, real estate, brewing, and insurance. The conglomerate is now managed by its grandchildren, who were appointed after former chairman Lee Kun-hee died in 2020.
Get the latest news updates and stay informed with FELA NEWS!
Source: Business Standard
