Coway Responds to Align Partners' Shareholder Proposal with Official Statement

Coway's Official Response to Align Partners' Shareholder Proposal

On January 24, 2025, Coway Co., Ltd. — recognized as the 'Best Life Solution Company' — provided an official statement responding to the shareholder proposal submitted by Align Partners Capital Management Inc. on January 7, 2025. The proposal, which was forwarded through the Seoul-based law firm Hannuri Law LLC, called for a substantial dividend payout that would represent approximately 90% of the company’s consolidated net income.

The suggested dividend percentage far exceeds Coway's previously announced target of a 40% shareholder return, set forth in their shareholder return policy disclosed on January 6, 2025. Coway emphasizes its commitment to maintaining financial stability and fostering long-term growth for its stakeholders.

In the statement, Coway acknowledged receiving the 90% dividend proposal and assured shareholders that it would be presented to the board of directors. The company plans to submit its own agenda for shareholder returns after a thorough review of its annual financial statements and the progress of an external audit.

Jangwon Seo, the CEO of Coway, stated, "We will strive to maximize shareholder value by continually generating performance. We earnestly request your continued trust and support for the sustained growth of our company."

Coway, established in 1989, has emerged as a leader in the eco-friendly home appliance sector, advancing innovative products designed to improve health and comfort. Their offerings include water purifiers, air purifiers, bidets, and mattresses, which reflect the company’s dedication to enhancing the living standards of its customers. The newly launched BEREX brand focuses on enhancing wellness through advanced mattresses and massage chairs.

Since its inception, Coway has invested heavily in research and development, engineering, and customer service, resulting in a solid reputation marked by high customer satisfaction and esteemed product awards. The company’s international footprint is expanding rapidly, with operations in Malaysia, the USA, Thailand, China, Indonesia, Vietnam, Japan, and Europe.

The upcoming shareholder meeting will be crucial for determining how Coway’s strategies align with the expectations set forth by Align Partners, indicating the company's resolve to engage closely with its stakeholders while navigating the complexities of the market.

For more details, Coway invites interested parties to visit their official website at coway.com or read their news updates on newsroom.coway.com.