COWAY

SEOUL, South Korea, May 9, 2025 -  Coway Co., Ltd., the “Best Life Solution Company,” today reported its financial results for the first quarter of 2025.   “Coway achieved solid results across both domestic and global markets,” said Soon Tae Kim, Coway’s Chief Financial Officer. "These achievements were driven by our continued rollout of customer-centric, innovative new products, as well as the strengthening of our strategic marketing activities. In the second quarter, we will continue to remain agile within an ever-changing market while enhancing our products and service competitiveness and accelerating the expansion of our elder care business,  Coway Life Solution , in order to ensure stable, long-term growth.”   Coway reported the following earnings:   - First-quarter revenue: KRW 1,174.9 billion (+17.3% YoY) - First-quarter operating profit: KRW 211.2 billion (+9.0% YoY) * The reported figures are taken from the consolidated K-IFRS (International Financial Reporting Standards) statement.   Coway’s domestic business recorded a first-quarter revenue of KRW 678.6 billion, marking a year-on-year increase of 10.8%. This growth was driven by a 63.0% year-on-year rise in net rental account additions, totaling 103,000 in Q1. It was also driven by the strong sales of such new product launches as the Looloo Double Care Bidet 2 and the NOBLE 2.0 Air Purifier series, as well as the continued popularity of key product lineups including the Icon Water Purifier series and the BEREX lineup of mattresses and massage chairs.   Coway’s overseas subsidiaries posted a first-quarter revenue of KRW 446.7 billion, up 25.8% from the same period last year. The company’s Malaysia subsidiary achieved an impressive KRW 328.9 billion in revenue, marking a 22% year-on-year increase, while the United States and Thailand subsidiaries also sustained steady growth, recording revenues of KRW 60.0 billion (+33.7% YoY) and KRW 42.9 billion (+43.9% YoY) respectively.   Coway also announced its plan to repurchase KRW 110 billion worth of treasury stock this year as part of its Corporate Value-Up Plan. The repurchased stock is expected to enhance shareholder value through actions such as cancellation.   For additional details about Coway's financial performance, please visit the company's  Investor Relations  page.

As a global leader in the environmental home appliance industry, Coway has been helping make homes the world over that little bit better for the past 36 years. Since pioneering its first water purifiers in 1989, the company has expanded its portfolio to include air purifiers, bidets and more, establishing itself as South Korea’s leading brand in the sector. With a growing presence in such markets as the United States, Europe, Thailand and Malaysia, Coway continues, to this day, to redefine wellness technologies on the global stage. As we celebrate Coway’s 36th anniversary on May 2nd, this year’s ‘Coway Day’ is the perfect opportunity to reflect upon those milestones that have made Coway what it is — a global tech wellness company with solutions for better living at its core.   First Steps: Laying the Foundation for Innovation   <The Coway Water Purifier Launch Ceremony, South Korea 1991> Founded in 1989, Coway began its journey to international renown by developing water purifiers for the South Korean market. Understanding the importance of clean and safe water, Coway made filtration technology its core focus during product development. In 1992, the company established the Environmental Technology Research Institute, Coway’s research and development (R&D) center, in order to advance its expertise in filtration technology. This move kept Coway at the forefront of water purification innovation, with years of dedicated research culminating, in 2008, in the center becoming the first in South Korea to obtain the Recognized Testing Laboratory (RTL) certification from the Water Quality Association (WQA). Coway’s R&D capabilities have been pivotal to its success in the market. The center oversees every stage of product development, from initial research and product design to reliability tests and customer satisfaction evaluations. Coway also operates an overseas R&D system in order to create products tailored to specific markets, thus ensuring that its innovations are able to meet a diverse range of global needs.   Growing Stronger: Broadening Horizons in Korea <Trends in Coway's Domestic and International Rental Accounts Between 1998 and 2024> Ever since the launch of its rental service in the South Korean market in 1998, Coway’s dedication to innovative technologies and customer-centered services has been the driving factor behind the growth of these rental accounts. Starting with 500,000 rental accounts in 2000, the company surpassed 3 million in 2004 and then expanded to 5 million by 2011, solidifying Coway’s leadership in the industry. In order to further innovate in the South Korean market, the company also diversified its product lineup, including air purifiers and bidets, applying the same commitment to advanced technology and user-friendly design as seen with its water purifier lineup. Coway’s air purifiers, known for their sleek aesthetics and high-performance filtration, quickly gained market popularity. Today, Coway dominates the South Korean environmental home appliances market. Key achievements by the company include 27 consecutive years as Korea’s top water purifier brand and 23 consecutive years as Korea’s top air purifier and bidet brand, respectively, as per the Korea Brand Power Index (K-BPI).   Thriving Globally: A Leader in Wellness Technologies <Coway's Booth at CES 2022> Coway’s remarkable success extends far beyond South Korea. The company’s global expansion began in the 2000s, including the establishment of its Thailand and Malaysia subsidiaries, some of its largest international markets. In 2007, Coway expanded its reach across the Pacific, establishing Coway USA. In the 2010s, the company’s global growth only continued to accelerate. Coway's annual exports surpassed one million units in 2014, marking a major milestone in its international expansion and a sign of success which was further solidified by the company's growing reputation for innovation. Since 2016, Coway has consistently been recognized at CES, the world's largest consumer electronics show, having accumulated a total of 28 CES Innovation Awards to date. Coway officially entered the European market in 2021, bringing the company’s three decades of expertise in air purification to a new audience. While Coway’s full product lineup is well-known across Asia and the U.S., the company’s focus, since 2021, has been on introducing high-performance air purifiers designed specifically to meet the needs of European homes. As of March 2025, Coway has exceeded 10.3 million rental accounts worldwide, with 6.71 million accounts in South Korea and 3.62 million internationally. This global success can also be seen in the company’s 2024 revenue figures, which surpassed KRW 4.3 trillion.   The Future: Shaping Tomorrow’s Wellness Solutions <Members of Coway’s Water Taste & Research Lab> Looking to the future, Coway aims to strengthen its global presence even further. Dedicated to creating healthy and convenient living environments for all its consumers, the company plans to introduce next-generation products worldwide. Coway is committed to continuous growth, targeting revenue goals that exceed KRW 5 trillion by 2027. The company’s strategic focus includes advancing core businesses, expanding global operations and exploring new business initiatives. To further enhance wellness and comfort for its consumers, in 2022, Coway launched BEREX, an integrated brand specializing in mattresses and massage chair products designed to improve sleep quality and overall well-being. As Coway continues to shape the future of wellness technology, it remains dedicated to innovation, quality and creating the ‘best life solutions’ for consumers all around the globe.

- Three products, including Coway’s new Switch Water Purifier, recognized for design innovation - The company was applauded for its minimalist aesthetics and user-centric design that blends seamlessly into any space Seoul, South Korea, April 17, 2025 –  Coway Co., Ltd., the “Best Life Solution Company”, has received the Red Dot Design Award 2025 in the Product Design category. This marks Coway’s 19th consecutive win, reaffirming its global competitiveness in design.   The Red Dot Design Award is a prestigious international competition that celebrates design excellence and innovation, alongside other such distinguished awards as iF and IDEA.   This year’s award-winning products include the Switch Water Purifier, NOBLE 2.0 Air Purifier Series and more. They were praised for their minimalist design, ability to complement various interior styles, and user-centric features.   Coway’s innovative new Switch Water Purifier is a non-electric model offering maximum installation flexibility. It can be easily adapted between horizontal and vertical configurations to suit a range of kitchen layouts and even offers under-sink convertibility, enhancing space efficiency.   Additionally, the NOBLE 2.0 Air Purifier Series blends effortlessly into all kinds of interiors thanks to its sleek, architectural design with clean lines and five nature-inspired color options. Its concealed air intake further contributes to its overall design integrity, while Coway’s innovative purification technologies optimize performance even within a more compact form factor.   Also honored in this year’s awards was the Premium Bidet Remote Control Series used in Coway’s bidets. The series features an intuitive touch display and comes in three shapes – stair-type, bar-type, and square-type – and two elegant color options, titanium silver and charcoal black. With these choices, users can personalize their experience to suit both their bathroom interiors and preferred operation styles, while the intuitive design enhances usability and convenience.   A Coway official said, “This award reflects growing global recognition of our design philosophy – that is, creating products that naturally integrate into everyday life. We will continue to introduce innovative designs that deliver enhanced functional and aesthetic experiences for our customers.”