Speakers, including female leaders, policymakers and scholars, pose during the UN Women’s first annual Seoul Gender Equality Dialogue, at a hotel in Seoul, Thursday. Courtesy of UN Women UN Women hosts gender equality dialogue in Seoul By Lee Yeon-woo Women’s economic participation has increased, but remains notably limited in pivotal industries that drive the global economy, such as infrastructure, technology and finance. The under-representation of women in pivotal industries is not only a missed opportunity, but poses a risk as it diminishes their representation and decision-making influence in societies, noted the UN Women Centre of Excellence for Gender Equality. “Integrating women enhances diversity within a company, leading to the creation of innovative products and services that cater to a wider audience,” remarked Deputy Minister of Economy and Finance, Kim Kyung-hee. According to the Global Gender Gap Report 2023 by the World Economic Forum, as of 2022, women represented 22 percent of the workforce in the infrastructure industry, 36 percent in technology, information and media sectors and 42 percent in financial services. Female leadership figures in these industries are even more dismal, standing at just 16 percent, 28 percent and 32 percent, respectively. Deputy Minister of Economy and Finance, Kim Kyung-hee, speaks during the UN Women’s first annual Seoul Gender Equality Dialogue at a hotel in Seoul, Thursday. Courtesy of UN Women The challenges are further pronounced in Korea. Data from the gender ministry in 2021 reveals that female leadership in construction, scientific and technical sectors, and finance and insurance stood at 2.5 percent, 8.5 percent and 5.3 percent, respectively. These percentages tend to dip even lower in key roles within core business units. “When considering national competitiveness, it’s far more strategic to utilize female talent than to neglect it. Given the shrinking working-age population from low birth rates and an aging society, it becomes imperative for talent, irrespective of gender, to contribute to our core industries,” Kim added. Appointed in September, Kim is a trailblazer, the first woman to attain the deputy minister position in the finance ministry. Themed “Breaking Gender Barriers for a Better Future of Key Industries,” prominent participants, including female leaders, policymakers and scholars, gathered in Seoul to discuss strategies to foster an environment where more women can join, thrive and remain in key industries. This marks the inaugural gender equality dialogue hosted by the UN Women in Seoul. “Women in leadership is not a diversity issue. It’s a business issue,” said Benja Stig Fagerland, an associate professor at the University of South-Eastern Norway School of Business and the founder of SHEconomy. “SHEconomy is not merely a niche market. It is a financial juggernaut, representing a staggering $20 trillion global market. To provide some perspective, that’s equivalent to the combined GDPs of China and India. International studies consistently show that gender-diverse companies outperform their peers,” Fagerland added. Ahn Su-jin, a corporate EVP at Samsung Electronics’ memory business division, speaks during the UN Women’s first annual Seoul Gender Equality Dialogue at a hotel in Seoul, Thursday. Courtesy of UN Women What stood out at the event was the firsthand accounts from female leaders who have faced and overcome the challenges of breaking through the glass ceiling. “In the journey to leadership, one must possess the maturity to grow alongside colleagues, leveraging both expertise and internal, external networking,” said Ahn Mi-sun, vice president of POSCO E&C. “To support this, it’s crucial to establish a work environment that promotes inclusivity regardless of gender and offers family-friendly company policies.” Subsequent presentations focused on strategies to cultivate a greater number of female leaders through organizational culture enhancements. Esteemed representatives from global giants like JPMorgan Chase, Intel and Google delved into topics such as: fostering male support groups, broadening the pool of female talent, backing female entrepreneurs, compiling diversity reports, rectifying wage disparities and dismantling gender-based prejudices. “I was questioned 20 years ago whether female engineers could produce values and make growth in the semiconductor industry,” said Ahn Su-jin, a corporate EVP at Samsung Electronics’ memory business division. “I believe the accomplishments and active roles of senior female leaders, including myself, have provided a resounding answer to that skepticism.” About 300 participants listen to the UN Women’s first annual Seoul Gender Equality Dialogue at a hotel in Seoul, Thursday. Courtesy of UN Women