COWAY

- In Q4 of 2025, Coway’s revenue reached KRW 1,275.4 billion (+13.3% YoY) with an operating profit of KRW 181.6 billion (-1.0% YoY) - The company’s FY2025 annual revenue totaled KRW 4,963.6 billion (+15.2% YoY) with an operating profit of KRW 878.7 billion (+10.5% YoY) - Behind Coway’s record growth in 2025 is the company’s sleep and wellness brand BEREX, a new core revenue engine, as well as strong ice water purifier product sales   SEOUL, South Korea, February 6, 2026  – Coway Co., Ltd., the “Best Life Solution Company,” has today announced its financial results for the fourth quarter and fiscal year 2025.   “In the face of persistent global economic uncertainties, Coway was able to realize both top-line growth and profitability in 2025 by focusing on our fundamentals, strengthening our R&D capabilities and diversifying our product portfolio,” stated Jangwon Seo, CEO of Coway. “Going forward, we will continue to maintain this stable momentum through product innovation across both our domestic and global markets.”   Coway’s reported earnings are as follows:   -          Fourth-quarter revenue: KRW 1,275.4 billion (+13.3% YoY) -          Fourth-quarter operating profit: KRW 181.6 billion (-1.0% YoY) -          Annual revenue: KRW 4,963.6 billion (+15.2% YoY) -          Annual operating profit: KRW 878.7 billion (+10.5% YoY) *The reported figures are taken from the consolidated K-IFRS (International Financial Reporting Standards) statement.   The company’s strong results across both domestic and global markets in 2025 were driven in no small part by the visionary mid- to long-term strategy previously introduced by Junhyuk Bang, Chairman of Netmarble and Coway, which includes launching innovative products, expanding into new business areas and strengthening the company’s global footprint.   Coway’s domestic business reported an annual revenue of KRW 2,865.6 billion in 2025, marking an 11.0% year-over-year increase. This performance was bolstered, in particular, by strong sales in the ice water purifier category, as well as from the BEREX lineup of beds and massage chairs. Annual rental gross adds also saw impressive growth, increasing 7.7% year-over-year to a total of 1.85 million by the end of 2025.   BEREX, the company’s sleep and wellness brand, first launched as a key strategic initiative of Chairman Bang in December 2022, recorded a consolidated revenue of KRW 719.9 billion, thus firmly establishing itself as a key new revenue model for Coway. The brand’s commercial success in 2025 was notably driven by the domestic bed business, which reached KRW 365.4 billion in revenue, up 15.4% compared to the previous year.   Marking a 22.3% year-over-year increase, Coway’s overseas subsidiaries contributed KRW 1,889.9 billion in annual revenue in 2025. The company’s Malaysian subsidiary maintained its market leadership with a revenue of KRW 1,409.5 billion (+21.7% YoY), while the United States subsidiary saw a 10.5% year-over-year increase in its annual revenue, reaching KRW 236.7 billion. Furthermore, Coway’s Thailand and Indonesia subsidiaries also achieved rapid growth, with impressive year-over-year increases of 38.8% and 67.5% and annual revenue totals of KRW 174.4 billion and 50.6 billion, respectively.   For additional details about Coway's financial performance, please visit the company's  Investor Relations  page.   About Coway Co., Ltd. Established in Korea in 1989, Coway, the "Best Life Solution Company," is a leading home environment appliances company making people's lives healthy and comfortable with innovative home appliances such as water purifiers, air purifiers, bidets, and mattresses. BEREX, the company’s sleep & wellness brand, aims to improve the quality of life through cutting-edge mattresses and massage chairs. Since being founded, Coway has become a leader in the home environment appliances industry, with intensive research, engineering, development, and customer service. The company has proven dedication to innovation with award-winning products, home health expertise, unrivaled market share, customer satisfaction, and brand recognition. Coway continues to innovate by diversifying product lines and accelerating overseas business in Malaysia, the USA, Thailand, China, Indonesia, Vietnam, and Europe, based on the business success in Korea. In 2025, the company launched Coway Life Solution, a premium elder care platform offering personalized care solutions tailored to different life stages. For more information, please visit  http://www.coway.com/  or  http://newsroom.coway.com .

- Since announcing its Corporate Value-Up Plan in 2025, Coway has been seeing tangible progress across revenue growth, shareholder returns, financial soundness and governance - To date, the company has executed KRW 247.3 billion in shareholder returns, achieving the 40% return rate goal - Starting in FY2026, Coway will prioritize cash dividends to secure high-dividend company status and tax benefits for shareholders -  Reporting an enhanced compliance rate on key governance indicators of 74%, Coway targets 93% by 2027   Seoul, South Korea, February 6, 2026 –  Coway Co., Ltd., the “Best Life Solution Company,” today announced an assessment of the implementation status of its Corporate Value-Up Plan, outlining concrete achievements to enhance shareholder value and detailing its mid- to long-term strategic roadmap.   Last year, Coway unveiled its Corporate Value-Up Plan, which includes the following key indicators to be achieved by 2027: achieving revenue exceeding KRW 5 trillion; maintaining a 40% shareholder return rate; managing a net debt-to-EBIT ratio of up to 2.5; and enhancing its governance frameworks.   Since announcing the plan, Coway has conducted several internal reviews of its implementation progress and has proactively prepared supplementary measures to enhance execution efficacy. This disclosure aims to transparently communicate an assessment of results to date, to convey future plans to shareholders and the market, and to reaffirm the credibility and positive impact of its value-up initiatives.   Early Progress Toward Revenue Goals: Accelerating the KRW 5 Trillion Roadmap   In 2025, Coway recorded KRW 4.96 trillion in revenue, a 15.2% year-over-year increase. This performance significantly outpaces the company’s targeted compound annual growth rate (CAGR) of 6.5%, placing Coway well ahead of schedule to exceed its KRW 5 trillion goal by 2027.   Coway sustained solid growth in 2025 through strengthened competitiveness in its domestic business and the continued expansion of its overseas operations. In the domestic market, steady growth in water purifier rental accounts served to reinforce the foundation of the company’s core business, while on the global front, revenue growth was driven by continual expansion at existing overseas subsidiaries, as well as rapid growth from newer entities.   This strong performance was fueled, in particular, by BEREX, Coway’s sleep and wellness brand, first launched in 2022 as part of Chairman Junhyuk Bang’s strategic vision to secure new growth engines. In 2025, BEREX generated KRW 719.9 billion in combined domestic and overseas revenue.   Alongside the launches of BEREX products to international markets and the expansion of product lineups across a variety of categories, in line with the Chairman’s strategy for global expansion, the contribution of overseas markets to Coway’s overall revenue increased to approximately 40% in 2025, further strengthening Coway’s presence on the global stage.   Delivering a 40% Shareholder Return Rate Through Balanced Execution   Coway successfully achieved a 40% total shareholder return rate in 2025, comprising KRW 247.3 billion. This was achieved through a balanced mix of KRW 137.3 billion in cash dividends and KRW 110.0 billion in treasury stock acquisitions. Notably, the company retired approximately 1.9 million treasury shares acquired in 2017 and 2024 in order to directly boost per-share value.   While maintaining the 40% return rate through 2027, Coway will prioritize cash dividends to satisfy "High-Dividend Company" requirements that enable the shareholders to benefit from separate taxation on dividend income. The company will also maintain a dividend payout ratio of at least 25% and increase the total dividend amount by more than 10% year-over-year. The remaining 15% of the return pool will be flexibly allocated between treasury stock purchases and additional cash dividends to maximize shareholder tax benefits and total yields.   Maintaining Financial Soundness and Stable Capital Structure Management   Alongside the expansion of growth investments and shareholder returns, Coway is working to manage its target capital structure in a manner that ensures financial stability. As of 2025, the company’s net debt-to-EBIT ratio stood at 2.1, and Coway plans to manage it up to 2.5 by 2027 through continued and consistent capital structure management.   In order to secure funds for growth investments, working capital and shareholder returns, Coway actively utilizes debt financing to enhance capital efficiency, all the while rigorously maintaining its credit rating risk so as to further strengthen long-term fiscal viability.   Strengthening Compliance Rates for Key Governance Indicators   Since first announcing its Corporate Value-Up Plan, Coway has reported an increase in its compliance rate on key governance indicators to 74%, a rise driven by an increase in the proportion of outside directors to 67% as well as the establishment of a Compensation Committee composed entirely of outside directors.   Coway has also outlined a mid- to long-term roadmap for its corporate governance advancement. In 2026, the company plans to establish an Internal Transaction Committee and a Senior Independent Director system to further enhance its corporate governance, and will also undertake amendments to its articles of incorporation in line with the recent revisions to South Korea’s Commercial Act. By 2027, Coway aims to reach a compliance rate on key governance indicators of 93% through measures such as the adoption of electronic voting and cumulative voting systems.   A Coway official said, “Since announcing our Corporate Value-Up Plan, we have delivered tangible results across our growth rate, shareholder returns and governance standards. Going forward, we will continue to monitor implementation of the plan closely using key indicators, and remain dedicated to a balanced approach that reinforces both investment in future growth engines and shareholder returns, thereby ensuring the steady enhancement of corporate value over the mid to long term.”   For additional details about Coway’s Corporate Value-Up Plan, please visit the company’s  Investor Relations  Page.     About Coway Co., Ltd. Established in Korea in 1989, Coway, the "Best Life Solution Company," is a leading home environment appliances company making people's lives healthy and comfortable with innovative home appliances such as water purifiers, air purifiers, bidets, and mattresses. BEREX, the company’s sleep & wellness brand, aims to improve the quality of life through cutting-edge mattresses and massage chairs. Since being founded, Coway has become a leader in the home environment appliances industry, with intensive research, engineering, development, and customer service. The company has proven dedication to innovation with award-winning products, home health expertise, unrivaled market share, customer satisfaction, and brand recognition. Coway continues to innovate by diversifying product lines and accelerating overseas business in Malaysia, the USA, Thailand, China, Indonesia, Vietnam, and Europe, based on the business success in Korea. In 2025, the company launched Coway Life Solution, a premium elder care platform offering personalized care solutions tailored to different life stages. For more information, please visit  http://www.coway.com/  or  http://newsroom.coway.com .

Coway's Water Sommeliers Established in 2019, Coway’s Water Taste Evaluation & Research Lab, located in the company’s Environmental Technology Research Institute (R&D Center) in Seoul, Korea, is home to a unique group of experts: nationally-certified water sommeliers. Coway is the only company in the industry operating a dedicated water taste research lab. Harnessing Science for Better Tasting Water Similar to their namesakes in the wine industry, water sommeliers are specialists able to evaluate the sensory qualities of water, ensuring that Coway’s water purifiers deliver water that is as enjoyable to drink as it is safe. By studying the factors that influence water quality and taste, they validate and enhance the drinking experience. This year, Coway certified 15 new water sommeliers, bringing the company’s total to 44 – the largest in the industry. Among them, 10 hold Advanced Level certifications, enabling them to lead training and education in water taste.   Coway’s Environmental Technology Research Institute (R&D Center) in Seoul, Korea Since the launch of the initiative in 2012, Coway has been expanding its water sommelier program in order to strengthen its research capabilities. The lab also pioneered the industry’s first proprietary water taste standard, the ‘GPT (Good Pure Tasty) Water Index.’ Today, water sommeliers play a central role in product development, assessing water taste and quality throughout filter design and testing processes. Their expertise ensures Coway is delivering to its customers water that is not only clean and safe, but that is also consistently pleasant across the company’s diverse range of markets.   Coway's Icon Water Purifier 2 (CP-7211N) Achieving International Certification and Recognition Beyond this taste expertise, Coway has also achieved international recognition for the water safety and performance of its products. Coway was the first in the industry to obtain global certification from the Water Quality Association (WQA), a recognized international certification body for water purifiers, back in 2008. Additionally, Coway’s filters have been certified by the WQA to a variety of leading industry standards, including NSF/ANSI 42 (aesthetic effects), 53 (health-related effects) and 58 (reverse osmosis systems). More than 80 of the company’s products carry the WQA’s Gold Seal Mark, a clear assurance of product quality, durability and safety. Setting the Global Benchmark for Water Expertise Moreover, Coway’s specialized overseas research & development (R&D) systems empower the company to develop custom products tailored to the specific requirements of each country it operates in. By collecting and analyzing water samples the world over, Coway has developed its proprietary “Water Map”, a database containing findings from approximately 2,700 water sources in 41 countries. This extensive catalog of samples allows Coway to deliver optimal and localized products and services that align with each region’s unique water characteristics. With the industry’s largest team of certified water sommeliers, advanced R&D capabilities and internationally-certified products, Coway continues to set the benchmark for water expertise. Coway’s mission is simple yet powerful: to deliver water that is safer, cleaner and consistently better-tasting, every single day.