Samsung Electronics’ executives get younger in 2023

[Photo by MK DB]

Samsung Electronics Co. has placed more younger-generation employees in executive positions last year as the South Korean tech giant becomes more active in diversifying its management personnel.

According to an analysis of Samsung Electronics’ 2023 business report by Maeil Business Newspaper on Wednesday, the company had a total of 1,163 registered and unregistered executives, excluding external directors, in 2023.

The figure, which accounts for 0.93 percent of its entire employees, was up by 10 executives from the previous year. The roles include one chairman, three vice chairmen, 21 presidents, 371 vice presidents, and 767 managing directors.

The average annual salary of unregistered executives stood at 726 million won ($553,442), up 3.3 percent from the previous year.

The majority of executives were still men in their 50s and graduates of Seoul National University.

Men accounted for the majority of the executives with 1,083, or 93.1 percent, while only 80 or 6.9 percent were women.

There was one female president, 17 vice presidents, and 62 managing directors.

While still a minority, the number and percentage of female executives increased in 2023 compared to a year ago which saw 72 female executives, or 6.2 percent.

The number of executives born in the 1980s has increased significantly amid a generational shift.

There were only 20 executives born in the 1980s (1.7 percent) in 2022 while the number grew to 34 individuals (2.9 percent) in 2023.

Those born in the early 1970s (1970-1974) accounted for more than half (51.5 percent) with 599. Those born between 1965 and 1969 also made up a significant portion, with 272 individuals (23.4 percent), signifying that the majority of Samsung Electronics executives were in their 50s.

The youngest executive was Bae Bum-hee, born in 1985, serving as a managing director at the Mobile Experience (MX) Division.

Seoul National University and the Korea Advanced Institute of Science and Technology (KAIST) continued to dominate the high-level workplace.

The number of executives from Seoul National University (144) and KAIST (100) was in the triple digits.

There was also a noticeable increase in the number of executives from regional universities.

There were 34 executives from Kyungpook National University, 32 from Sogang University, 26 from Pohang University of Science and Technology, and 24 from Inha University.