The number of executives at Korea’s top 30 conglomerates decreases year after year as a growing number of companies carry out downsizing and restructuring to offset poor performance.
CEO Score, a corporate performance analysis site, has recently surveyed 262 affiliates of Korea’s major 30 groups that submitted quarterly reports as of September. The survey has found that the total number of executives at these companies amounted to 9,742 as of late September this year, down 53 (0.5 percent) from 9,795 in the same month in 2015.
By business group, Samsung removed executive positions the most. The number of executives at its 21 affiliates stands at 1,920 this year, down 356 (15.6 percent) from 2,276 at the end of September 2015.
Samsung is followed by Doosan (minus 144), Hyundai Heavy Industries (minus 111), POSCO (minus 44), GS (minus 24), Harim (minus 23), Daelim (minus 22), Mirae Asset (minus 21), Kumho Asiana (minus 15), and Hanjin (minus 13).
Meanwhile, the number of executives increased in 17 groups, including Hyundai Motor (202), Lotte (82), SK (79), LG (73), CJ (48), KT (46), and KT&G (33).