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Korea’s top companies cut executive numbers by 100 amid economic uncertainty

Published: 27 Oct. 2025, 17:31 Updated: 27 Oct. 2025, 19:31

Office workers in suits walk across a street in Jongno District, central Seoul in this file photo [YONHAP]

The number of executives at Korea’s 100 largest companies has fallen by about 100 over the past year, reflecting cost-cutting amid growing economic uncertainty, according to new data released Monday.

At the same time, younger leaders are taking over. Executives born in the 1980s surpassed 200 for the first time, marking a clear generational shift toward younger management.

According to global headhunting firm Unico Search, the total number of executives at the top 100 listed companies stood at 7,306 this year, down from 7,404 last year. The analysis included both registered and unregistered executives, excluding outside directors.

“This decline reflects large corporations adopting cost-cutting measures, particularly targeting executive-level positions, amid growing projections of economic uncertainty this year,” Unico Search said.

The analysis examined the top 100 listed companies by revenue in 2024 on a stand-alone basis and included both registered inside directors and unregistered executives as recorded in each company’s half-year business report. Outside directors were excluded.

The generational shift in leadership is particularly pronounced. The number of executives born in or after 1970 increased by 431 over the past year, while those born in the 1960s fell by 600.

Executives born in the 1960s accounted for 62.9 percent of the total in 2021, with 4,193 individuals, then fell to 51.8 percent in 2022 with 3,717, 44.2 percent in 2023 with 3,242, and 36.5 percent in 2024 with 2,707. This year, their proportion has declined further to 28.8 percent, or 2,107 people.

Office workers in suits walk across a street in Jongno District, central Seoul on May 20. [YONHAP]

In contrast, executives born in the 1970s rose from 33.7 percent in 2021 with 2,230 individuals, to 45 percent in 2022 with 3,227, 52.8 percent in 2023 with 3,878, and 60 percent in 2024 with 4,443. Their share reached 66.8 percent this year, with 4,874 people.

Executives born in the 1980s are also on the rise. Their share increased from 0.7 percent in 2021 with 63 individuals, to 1.5 percent in 2022 with 105, 1.8 percent in 2023 with 131, and 2.6 percent in 2024 with 189. This year, the number rose to 3.5 percent, or 256 people.

Among them, Kolon Group Vice Chairman Lee Kyu-ho, born in 1984 and currently an inside director at Kolon Industries, was identified as the youngest registered executive director at any of the top 100 companies.

“This year-end reshuffle among large corporations will likely see a significant increase in executive appointments of those born between 1975 and 1977 — currently aged between 48 and 50 — as well as individuals born in the 1980s,” said Kim Hye-yang, CEO of Unico Search. “There is a growing trend of promoting talent in new technology sectors such as AI into executive roles.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KIM SU-MIN [[email protected]]