Has the Average Age of South Korean CEOs Dropped Below 60?
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Synopsis
In a striking shift for South Korean corporations, the average age of CEOs has fallen below 60 for the first time, indicating a generational change in leadership. This trend highlights the evolving landscape of business in South Korea, revealing both opportunities and challenges as younger executives take the helm amidst a backdrop of economic shifts.
Key Takeaways
- The average age of CEOs in South Korea is now 59.8 years.
- Only 2% of CEOs are women, indicating a gender gap in leadership.
- Young workers in their 20s are now outnumbered by employees aged 50 or older.
- Significant leadership changes are occurring across major companies.
- This generational shift may bring fresh perspectives to the corporate world.
Seoul, Aug 12 (NationPress) The average age of chief executive officers (CEOs) at South Korea's leading corporations has fallen below 60 for the first time, according to industry data released on Tuesday, marking a significant generational shift in the business landscape.
Data from the corporate tracker Leaders Index indicates that the average age of top executives at the nation's 500 largest firms by sales is now 59.8 years, a decline from 61.1 in 2023 and 60.3 in 2024, as reported by the Yonhap news agency.
This decrease is attributed to numerous companies experiencing changes in their top management.
For example, Hansol Paper Co., the leading paper manufacturer, appointed 46-year-old Han Kyung-rok as CEO this year, succeeding 63-year-old Han Cheol-gyu.
Similarly, Meritz Fire & Marine Insurance Co. recently named 48-year-old Kim Joong-hyun as its CEO, replacing 62-year-old Kim Yong-beom.
Among the notable appointments, Lee Jae-sang, aged 43 from K-pop giant Hybe Corp., is recognized as the youngest outsider CEO, while 36-year-old Koo Woong-mo, the grandson of LG Group's founder, took charge of LT Corp. in 2023.
On the other end of the spectrum, CJ Corp. CEO Sohn Kyung-shik, who is 86 years old, shares the title of the oldest leader with Nexen Corp. CEO Kang Byung-joong.
Furthermore, only 12 of the CEOs in major South Korean organizations are women, representing a mere 2 percent of the total.
Recent industry data also reveals that leading South Korean firms have fewer employees in their 20s compared to those aged 50 or older, reflecting a trend of reduced hiring for younger workers amid an economic slowdown.
The data highlights that the share of employees in their 20s at 124 top companies by sales was recorded at 19.8 percent as of the end of 2024, a decrease of 1.2 percentage points from the previous year.
In contrast, the percentage of workers aged 50 and above increased to 20.1 percent, up 0.6 percentage points from last year.
This marks the first occurrence since 2015, when Leaders Index began tracking this data, that employees in their 20s have been outnumbered by those older than 50. Additionally, the proportion of workers under 30 has dipped below 20 percent for the first time.
Point of View
The decline in the average age of CEOs in South Korea signifies a transformative phase in the corporate world. The influx of younger leadership is poised to bring fresh ideas and innovative approaches, which could rejuvenate industries but also presents challenges in terms of experience and stability. It is essential for companies to balance youthful energy with seasoned wisdom to navigate the complexities of today's economic landscape.
NationPress
09/10/2025
Frequently Asked Questions
What is the average age of South Korean CEOs?
As of this year, the average age of CEOs at major South Korean companies is 59.8 years.
How many women are CEOs in South Korea?
Only 12 women hold CEO positions in South Korea's major companies, accounting for 2 percent of the total.
What trend is observed in the employment of young workers?
Leading companies are hiring fewer employees in their 20s, with their numbers dropping below those aged 50 or older.
Who is the youngest CEO in South Korea?
The youngest outsider CEO is Lee Jae-sang, 43, from K-pop powerhouse Hybe Corp.
What does the decline in CEO age signify?
The decline indicates a generational shift in leadership, reflecting changes in the corporate landscape amid economic shifts.
