Executives of Top 100 Companies Reach Record High of 7,300... Half Born in the 1970s

7345 People This Year... 2.4% Increase from Last Year
"Number of Executives Likely to Decrease Next Year"

The number of executives at the top 100 domestic companies surpassed 7,300 for the first time this year. Despite a decline in performance, the number of executive positions in large corporations increased by nearly 200 within a year. More than half of these executives were born in the 1970s (aged 44-53). Executives from the MZ generation (born from the early 1980s to early 2000s) accounted for about 2%.

Global headhunting specialist Unicosrch released an analysis report on the status of executives at the top 100 domestic companies by sales in 2023. The survey covered inside directors and non-registered executives, excluding outside directors.

The survey found that the number of executives identified at the top 100 companies this year was 7,345, an increase of 170 (2.4%) from 7,175 last year. Operating profit decreased by 43.6% from 103 trillion won in 2021 to 58 trillion won last year, but the number of executives increased.

The number of corporate executives by year remained in the 6,000 range from 2010 to 2013, then entered the 7,000 range for the first time in 2014 with 7,212. It stayed in the 6,000 range from 2015 to 2021, re-entered the 7,000 range last year, and broke the record this year.

By age group, those born in the 1970s (aged 44-53) were the largest group with 3,878 (52.8%). Executives born between 1970 and 1974 (aged 49-53) numbered 2,982 (40.6%). Those born in 1970 were the largest single-year group with 759 (10.3%). Those born in the 1960s (aged 54-63) accounted for 3,246 (44.2%), the 1980s (aged 34-43) 132 (1.8%), and the 1950s (aged 64-73) 81 (1.1%). The proportion of executives born in the 1970s increased from 27.9% in 2020, 34.4% in 2021, 45.1% last year, to 52.8% this year. The proportion of executives born between 1965 and 1969 (aged 54-58) decreased from 46.2% in 2020 to 45.5% in 2021, 40.7% last year, and 36.1% this year.

There were 277 CEO-level registered executives (inside directors), accounting for 3.8%. By age group, those born between 1960 and 1964 (aged 59-63) were the largest with 177 (42.2%). The top birth years were 1964 with 35, 1965 with 27, and 1963 with 26. CEOs born in 1964 include Jang Jae-hoon, President of Hyundai Motor Company; Jeong Il-taek, President of Kumho Tire; Yoon Chun-sung, President of LX International; and Hong Won-hak, President of Samsung Fire & Marine Insurance. Inside directors born in the 1970s and 1980s numbered 42 (15.2%). Kim Dong-kwan, Vice Chairman of Hanwha Group, born in 1983 (age 40), was the youngest CEO among the top 100 companies.

Unicosrch forecast that companies will reduce the number of executives in next year’s personnel reshuffle scheduled for the end of this year. Kim Hye-yang, CEO of Unicosrch, said, "Ongoing wars around the world are increasing external uncertainties, and domestic economic conditions are poor due to high interest rates and inflation dampening consumer sentiment. It is expected that more companies will reduce not only executives but also the number of employees in the 2024 personnel changes compared to 2023."

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