Coway Sustainability

Woongjin Coway focuses on developing new growth engines for continued revenue generation and sustainable growth while maintaining our market share in the home wellness appliances business. To this end, we offer personalized services to our customers while expanding our product lineup for water purifiers, air purifiers, bidets, and mattresses.
2018 has been another record-breaking year for us as our consolidated sales reached KRW 2,707.3 billion, an increase of 7.6% over the past year, maintaining steady growth in sales. Meanwhile, our operating profit increased by 10.0% to KRW 519.8 billion with an operating profit margin of 19.2%.
In 2019, Woongjin Coway aims to achieve management targets through products in the air and water sector with new values, including CIROO, an independent filter system filtering ultrafine particles, and Air Dynamics Technology to create clean air flows.

Sales(K-IFRS Consolidated, Unit: KRW billion)

Operating Profit & Margin(K-IFRS Consolidated, Unit: KRW billion, %)

Operating Margin 14.3%

Operating Margin 18.8%

Operating Margin 19.2%

Our overseas sales grew by 32.5% year-over-year to KRW 544.2 billion. ODM/Dealer sales declined by 22.3% year-over-year to KRW 92.8 billion due to a decrease in sales of air purifier ODM business in China. On the other hand, we saw considerable sales growth in our overseas subsidiaries in Malaysia and the U.S. with KRW 451.4 billion, representing 55.0% growth year-over-year. In 2019, we plan to secure global growth engines by driving continued growth of our overseas subsidiaries in Malaysia and the U.S., and developing new markets with the aim to reach KRW 717.5 billion in sales with 31.8% growth compared to 2018.

Overseas Operating Profit & Margin(K-IFRS Consolidated, Unit: KRW billion, %)

Business Case

Woongjin Coway Selected as “Top Growing Brand” Among 50 Domestic Brands

Woongjin Coway was selected as the “Top Growing Brand” in the “Best Korea Brands 2019” lists organized by Interbrand, the world's largest branding consulting firm. The Best Korea Brand is selected based on Interbrand’s own brand value evaluation model, focusing on three key areas: financial analysis, brand role analysis, and brand power analysis. Starting in 38th place in 2015, we have made our way up to 32nd in 2016 and 31st in 2018, and our brand value has increased by 15.3% over last year to KRW 887.5 billion. According to Interbrand, the success factors of top growing brands include agile responses to increasing competition and changing consumer market conditions as well as new specialized services and aggressive partnerships seeking new growth opportunities.