Korea Development Bank: Average Male Regular Employee Wage 1.5 Times Higher Than Female... Largest Gender Wage Gap

Among Financial Services Commission-affiliated public enterprises, Industrial Bank ranks first in gender wage gap

Min Hyung-bae: "Wage disclosure should be expanded to encourage reduction of gender wage gap"

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Among the eight financial public enterprises under the Financial Services Commission, Korea Development Bank was found to have the largest gender wage gap as of 2019.

According to data submitted on the 9th by Min Hyung-bae (Gwangju Gwangsan-eul), a member of the National Assembly's Political Affairs Committee from the Democratic Party of Korea, from the eight financial public enterprises under the Financial Services Commission, the average annual salary of regular male employees at Korea Development Bank in 2019 was approximately 122 million KRW, while female employees earned about 81 million KRW, revealing that male employees earned on average about 151% more than female employees.

Following Korea Development Bank, the Deposit Insurance Corporation showed a male-to-female average wage ratio of 145%, with men earning 28.37 million KRW more than women; Korea Housing Finance Corporation was at 143% with a 25.87 million KRW difference; Korea Securities Depository at 137% with 32.32 million KRW more; and Korea Credit Guarantee Fund at 134%, earning 24.58 million KRW more. Among the eight public enterprises, the Industrial Bank of Korea had the smallest gender wage gap, with a difference of about 17 million KRW and a male-to-female average wage ratio of 118%.

In response, Assemblyman Min Hyung-bae stated, "The proportion of female employees in these institutions is low, and women are disadvantaged in promotions due to glass ceiling effects, which appears to result in lower average wages."

Looking at the gender ratio of regular employees by institution, the Korea Credit Guarantee Fund had 1,854 male employees and 655 female employees, with women making up 26% of the workforce, the lowest among the eight public enterprises. Other public enterprises also had low female ratios: Korea Securities Depository and Deposit Insurance Corporation at 29%, Korea Asset Management Corporation at 31%, and Korea Development Bank and Korea Housing Finance Corporation at 37%. The Korea Inclusive Finance Agency had the highest female ratio at 45%.

Assemblyman Min Hyung-bae emphasized, "In the short term, introducing systems like the Swiss wage distribution disclosure system to continuously publicize wage gaps can encourage voluntary efforts by companies. In the long term, breaking the glass ceiling and establishing institutional foundations such as implementing a female executive quota system will enable more women to advance to senior positions."

This content was produced with the assistance of AI translation services.