Achieve record-high operating profit in 1Q
Coway announced on May 1 that it achieved record high operating profit on a quarterly basis. Sales of Coway in 1Q 2018 recorded KRW 647.8 billion, an increase of 6.2% from the previous year. Operating profit and net profit increased 8.6% and 26.2% to KRW 131.3 billion and KRW 95.2 billion, respectively. Particularly, operating profit was the largest ever in its history on a quarterly basis. (based on K-IFRS consolidated financial statements).
These remarkable operating performances were mainly attributable to ...
Start the “3rd Wi School” program to cultivate startups in smart health appliance sector
Coway held the starting ceremony of the 3rd Wi School at the head office located in Jung-gu, Seoul, on April 28. The Wi School program was launched in 2016 with the aim of delivering Coway’s business knowhow and experiences and offering trainings to young people who prepare startups, becoming a leading youth startup support program.
About 30 teams joined this program consisting of business item contests linked with IoT and AI technologies in the fields of health appliance and beauty, trainings by startup experts, and ...
Launch a large-capacity air purifier
Coway launches the “Triple Power Air Purifier (AP-2318D).” Demonstrating large-capacity air purification power that cares 80 square meter space, this product is suitable for office, restaurant, kindergarten, school, and hospital. It adopted the triple power system that sucks up air through left, right, and bottom of product, which enables to care even dust of floor space.
This product has microfiber free filter, tailored filter, deodorization filter, and heap filter on both sides and microfiber free ...
Launch an AI-based air purifier
Coway launches the “Active Action Air Purifier IoCare” equipped with AI-based care and active swing functions. This product won the “2018 CES Innovation Award,” demonstrating innovative technologies.
The AI-based care function autonomously purifies indoor air by understanding the pattern of air pollution through machine learning process and checking fine dust change amount every five minutes, ensuring optimum indoor air quality.
The innovative active swing function of product ...
MBK’s excellence in managing Coway
Five years have passed since MBK Partners acquired the stake of Coway through Coway Holdings on January 2, 2013. Since then, Coway’s sales grew 1.3 times to over KRW 2 trillion and operating profit and net profit also doubled and trebled, respectively. Stock price jumped to around KRW 80,000 from KRW 30,000.
◇ Surpassed KRW 2 trillion in sales and achieved balanced growth
Coway’s sales and operating profit stood at KRW 2.52 trillion and KRW 472.7 billion in 2017, respectively. Those in 2012 were KRW 1.99 ...
Recruit participants in the “3rd Wi School”
With the aim of cultivating startups in the smart health appliance sector, Coway invites participants in the “3rd Wi School,” its flagship shared value creation program. Applications are accepted through the “cowaywischool.com” until April 18.
The “Wi School (What is Start up)” is recognized as one of Korea’s representative programs to support youth startups. Particularly, this program offers a new method which integrates contests and startup trainings this ...
Hold the opening ceremony for relocated Win-win Cooperation Center
On March 30, the opening ceremony for Win-win Cooperation Center which was relocated to Simgok-dong, Bucheon, Gyeonggi-do, was held, to which executives of suppliers were invited.
More than 100 people including the CEO of Coway and CEOs and executives of 69 1st and 2nd tier suppliers participated in the ceremony. Major programs included signing an agreement on shared growth and awarding excellent partners in addition to the proclamation of a fresh start.
At the ceremony, the company launched “Go Together with ...
Share the value of water with the public
On March 19, Coway held an event to make a pledge to supply clean and tasty water as Korea’s representative water company in the plaza in front of Ilmin Art Gallery located in Jongno-gu in celebration of the World Water Day on March 22.
As part of the event, the company exhibited a large-sized water purifier and CIROO filter and sommelier researchers delivered water purified through the filter to visitors.
Carry out the “Grand Blue Movie Week” campaign jointly with Channel CGV
Coway plans to carry out the “Grand Blue Movie Week” campaign to organize and televise water-related movies jointly with Channel CGV for the World Water Day on March 22.
This campaign was prepared to solidify the brand recognition as Korea’s representative water company and inform the public of the value of water.
With the concept of “Special Week to Enjoy Clean Water with Coway,” this campaign will be conducted from March 19 to 25. During the campaign, a total of seven water-related ...
Participate in the U.S.-based IHHS to lead the global trend of water purifier
Coway participates in the 2018 IHHS (International Home and Housewares Show) which is held in Chicago for days from March 10. This is the 10th participation in a row.
The IHHS, started in 1939, is the largest small home appliances exhibition in the North America.
Coway showcases seven kinds of air purifiers and three kinds of water purifiers at the show. The most popular product is “Aquamega,” a new-concept counter-top water purifier.
In the U.S., under-sink water purifiers are widely used. Coway ...