26 2022.09Coway’s Industry-Leading R&D Investments Pave the Path to Sustainable Growth
- Coway’s R&D investments increase by 28% following Netmarble’s acquisition of Coway - Domestic and overseas patents now stand at approximately 2,000 - The boost in R&D investments lays the foundation for sustainable growth Last year, Coway, “The Best Life Solution Company,” set a record for the largest spending on research and development for strengthening technological competitiveness and securing proprietary technologies. Coway invested KRW 48 billion in R&D in 2021, up 15% from the previous year, marking its largest-ever annual investment. This figure is well above the average R&D spending made within South Korea’s environmental home appliance industry, which stands at around KRW 20 billion. Notably, this spike in R&D spending took place after the acquisition by Netmarble. Since being acquired, Coway’s R&D expenditure increased by 30% from KRW 38 billion in 2019. Coway’s research and development are centralized in the company’s proprietary R&D center, the Coway Environmental Technology Research Institute, which consists of the Design Center, the TQA (Trust & Quality Assurance) Center, and a product technology laboratory. The R&D center, with over 500 researchers, the industry’s largest workforce, develops a vast range of environmental appliances ranging from water purifiers to air purifiers, bidets, and clothing purifiers sold domestically and internationally to global markets including Malaysia, the USA, Thailand, Indonesia, Vietnam, China, Japan, and Europe. The company’s research and development departments are organized into a systematic structure. Coway Environmental Technology Research Institute is in charge of developing and commercializing domestic and foreign products, plus new technologies. The TQA Center is responsible for product quality and safety-related issues. And the Design Center creates product interfaces and user experiences. Coway's bold boost in R&D investment has led to the creation of more innovative products, domestic and international patents, and proprietary technologies. The company currently holds over 2,000 domestic and international patent registrations, the highest in the industry. The number of patent registrations rose sharply from 1,107 in 2019 to 1,946 in 2021. Intellectual property rights, including trademarks, amount to 6,500 as of 2021. The premium design appliance range ‘NOBLE,’ launched by Coway last year, has created a stir in the domestic environmental home appliance market with its top-notch technology and signature sensuous design. Notably, the NOBLE Water Purifiers feature Coway’s innovative Smart Motion Faucet technology. A first in South Korea, the technology conceals the faucet within the main body when not in use and automatically reveals itself when it detects user movement. In addition to this, the NOBLE Induction Cooktops also feature the innovative All-Free Smart Auto Sensing technology, which allows borderless cooking with the entire cooktop as one large burner. As this is also a first in the market, it has attracted more new customers to the company. Coway is also striving to diversify its business and pioneer new markets with new filter technology. Recently, Coway broke into the Point of Entry (PoE) filter market with its own technology. PoE filters are water purifier filter systems installed into the main water supply pipe that enters the house. Typically, this technology is common mainly in business sites. Coway has been conducting research on PoE filters based on its 30+ years of expertise in the water purifier industry. As a result, Coway has recently developed a revolutionary PoE filter suitable for domestic use that can be used for 12 months by an average family of four. Coway, which established a strong position in the PoE filter market through its partnership with DL E&C, plans to introduce a new business model for apartment water treatment systems. The company plans to continue increasing its investment in R&D this year. In the FY2022 Guidance Announcement in March, Coway showed a strong will to continue dominating the market by strengthening IT investments for customer service and R&D investments for product innovation. A Coway official said: “We are creating growth engines while laying the foundations for further sustainable growth through our commitment to R&D and consistent innovative product launches.”
13 2022.09Coway Receives Acclaimed Design Awards at IDEA 2022
- Coway's NOBLE range, which includes air humidifiers, air dehumidifiers, induction cooktops, and water purifiers, is recognized as a Finalist in the Home category SEOUL, South Korea, Sept. 13, 2022 -- Coway Co., Ltd., "The Best Life Solution Company," received esteemed awards for the NOBLE range's design excellence at the International Design Excellence Awards (IDEA) 2022. Hosted annually by the Industrial Designers Society of America (IDSA), IDEA is one of the most influential design awards programs in North America. IDEA honors excellence in design and awards products that push the industry forward with new ways to improve everyday life. This year's IDEA have recognized all 3 of the series that make up Coway's Noble Collections as Finalists in the Home category — the NOBLE Air Care Solution Series, the NOBLE Induction Freedom Series, and the NOBLE Water Purifier Series. The Coway NOBLE Air Care Solution Series and NOBLE Induction Freedom Series now have a grand slam of the world's top three international design awards to their name, with accolades from the Red Dot Design Award 2022, the iF Design Award 2022, and the IDEA 2022. Every product within the Noble Collection has won award at IDEA, including the first product to launch, the NOBLE Air Purifier. This attests to the innovative design and technology of Coway's premium design appliance range. The Noble Collection epitomizes Coway's three key design principles: blending into the space, optimizing performance, and delivering a state-of-the-art user experience. Through the simplicity of focusing on the product's original functions, the designs harmonize with their surroundings to compliment any home aesthetic. The NOBLE Air Care Solution Series is a comprehensive air quality management solution that solves various domestic concerns with air purifiers, dehumidifiers, and humidifiers that all feature the signature architecture-inspired design. The NOBLE Air Care Solution Series carries on NOBLE's unique design identity with its hallmark tower and horizontal layer design. All products feature muted colorways inspired by nature's beauty to harmonize with any decor. The NOBLE Induction Freedom Series features an all-new type of induction cooktop that uses the entire cooktop with borderless burners. It maximizes cooking space and user convenience, with the whole stovetop as one large cooking zone. Users can cook more comfortably with the freedom to place varying pans anywhere they fit as it automatically detects the position and shape of the cookware, then adjusts the burner size. "We believe Coway's premium design appliance brand NOBLE is raising the bar for global home appliances by introducing designs that combine aesthetic sensibilities with powerful performance," said Hyun Joo Song, head of the Design Center at Coway. "We aim to continue innovating ingenious design and technology that elevates our customers' daily lives." About Coway Co., Ltd. Established in Korea in 1989, Coway, "The Best Life Solution Company," is a leading environmental home appliances company making people's lives healthy and comfortable with innovative home appliances such as water purifiers, air purifiers, bidets, and mattresses. Since being founded, Coway has become a leader in the environmental home 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, USA, Thailand, China, Indonesia, Vietnam, Japan, and Europe, based on the business success in Korea. For more information, please visit http://www.coway.com/ or http://newsroom.coway.com .
06 2022.09[IFA 2022] A Closer Look Into Coway's IFA Exhibition
Coway, "The Best Life Solution Company", has successfully wrapped up its exhibition at IFA 2022Coway returned to IFA 2022 for the first time since 2019, as Europe's largest consumer electronics and home appliances trade show returned to in-person events this year in Berlin, Germany, September 2 - 6. Coway showcased its next lineup of home health appliances for the European market with a total of 22 home health appliances with two new Coway Airmega purifiers, ready to roll out in Europe by the fourth quarter of 2022. Coway Newsroom shares a closer look into products that visitors showed a high interest in at the Coway's IFA Exhibition. ▲The highlight zone features Noble Air Purifier (Left), Airmega 250 Art (Center), Airmega 250 (Right) Airmega 250 (Right) combines the filtration coverage performance of a large air purifier, yet has a minimalist, compact design. In addition, the Airmega 250 offers automated functions, which adjust the fan speed automatically according to the room’s air quality and surroundings. Its design has earned international accolades from the Red Dot Design Award 2021, the International Design Excellence Awards (IDEA) 2021, Good Design Award 2021, and as well as Pin Up Awards. Airmega 250 Art (Center) further gives users the possibility to explore more iconic designs and find a look that fits a variety of tastes with an innovative magnetic front cover. ▲ Visitors are learning about the Airmega 250 Art whose innovative magnetic front cover can be replaced with other iconic designs that ▲ The exhibition prompters are showcasing the CES-exhibited Airmega 150 (Front, Middle) and Airmega 240 (Back). Airmega 150 is a simple, clean, and compact air purifier that features powerful three-stage filtration, combining a pre-filter, activated carbon filter, and a Green HEPA™ filter to reduce contamination in the air. Its sleek design has won three awards from the world's most prestigious design awards – iF Design Award (Germany), Good Design Award (Japan), and IDEA Award (USA). The air purifier includes filter change indicators, easy-to-pull filters, automatic speed control based on particles in the air, and an intuitive air quality indicator with a light that can be turned on or off. With the minimal design of Airmega 150, Airmega 240 boasts a more powerful performance. Its front design accentuates the home interior with geometric patterns. ▲ The exhibition presents Coway's most-loved Airmega Mighty (Left, Center) and Airmega 200M (Right). Airmega Mighty (AP-1512HH) has been the New York Times Wirecutter's top pick for eight consecutive years, including 2022, and is an Amazon USA best seller in the air purifier category. The powerful air purifier is suitable for rooms up to 33m2, including bedrooms, living rooms, and small enterprises. It has obtained the ECARF Seal of Quality for fully adapting to the needs of allergy sufferers. ▲ A Coway official is presenting Coway's Icon Water Purifier Series (Front) and Noble Water Purifier Series (Back).