A recent report released by Startup Alliance has shown that the representation of women on the boards of major domestic startups in South Korea remains strikingly low, at just 6.9%. This analysis, which examined the boards of 250 startups, found that nearly 71% of these companies have entirely male boards, highlighting a significant lack of gender diversity. The research indicates that only 29.2% of the companies included at least one female board member, and merely 18.4% had a female representation exceeding 20%.

The report further details the disparities in board roles, noting that among internal directors, the percentage of women was the highest at 10.1%, while external directors and other non-executive directors had even lower female representation. Alarmingly, the percentage of female CEOs in these startups stood at only 3.2%, showcasing a stark gender gap in top leadership positions. Additionally, it was found that while the majority of board members holding roles in multiple companies were male, the women were mostly involved in only a single board, reinforcing a male-centric network structure within these startups.

On a positive note, the report suggests that gender diversity correlates with better performance. Companies with a greater than 20% representation of female directors secured, on average, 138 billion won more in investments compared to those with fewer than 20% female representation. Furthermore, the projected revenue growth for the coming years was also higher among companies with more gender-diverse boards. This indicates that increasing female participation in leadership may not only promote equality but could also play a significant role in driving business success.