Coway's 36th Annual General Meeting Emphasizes Commitment to Shareholder Trust and Growth

On March 31, 2025, Coway Co., Ltd., recognized as the 'Best Life Solution Company,' convened its 36th Annual General Meeting (AGM) at its Yugu office located in Gongju City, Chungcheongnam Province, South Korea. The AGM served not only as a platform for corporate governance but also as a testament to the company’s dedication to transparent operations and sustainable growth.

During this pivotal meeting, shareholders voted on several key agenda items that would shape Coway's strategic direction. The notable outcomes included the ratification of financial statements, the appointment of new outside directors, and the approval for the retirement of approximately 650,000 treasury shares aiming to improve shareholder returns. Each decision reflects Coway's commitment to fostering a sustainable business framework that prioritizes shareholder interests.

Perhaps one of the most significant moments during the meeting was the rejection of Align Partners Capital Management Inc.'s proposal for a cumulative voting system. A spokesperson for Coway expressed that this decision affirmed the shareholders' trust in the current board structure, which is perceived as ensuring adequate operational independence and transparency—a crucial element for sustaining growth and enhancing shareholder value moving forward.

The AGM's proceedings also included announcing the appointment of eminent figures to the board. Jungho Kim, a respected Professor at the Graduate School of International Studies at Korea University, alongside Taehong Kim, CEO of Growth Hill Asset Management Co., Ltd., were welcomed as new outside directors. Additionally, Gilyeon Lee received reappointment in the same role, thus maintaining continuity in leadership governance.

Reflecting on the company’s progress and future plan, Jangwon Seo, CEO of Coway, highlighted the organization’s substantial investments in research and development. The focus is clearly directed toward innovating products and technologies that cater to modern consumer needs, evident in the impressive sales performance of their Icon water purifier series and the BEREX mattress and massage chair range. Seo assured stakeholders that Coway remains committed to enhancing core operations while advancing shareholder returns and governance practices.

As part of its mid-to-long-term strategy for shareholder returns, Coway is poised to continue its share repurchasing and cancellation efforts—intending to raise the shareholder return rate from an existing 20% to an ambitious 40%. Such initiatives underline Coway's proactive approach in maximally rewarding its shareholders while simultaneously enhancing corporate value.

Coway, established in Korea in 1989, has firmly positioned itself as a leader within the environmental home appliance industry, providing innovative solutions like water purifiers, air purifiers, bidets, and specialized mattresses. With a commitment to improving individual well-being through its product lines, including the newly launched BEREX brand aimed at enhancing sleep quality, the company has garnered numerous accolades for product excellence and customer satisfaction.

Furthermore, Coway's strength is not confined to the domestic market; the company continues to expand its presence internationally, actively diversifying its product offerings across various global locations including Malaysia, the USA, Thailand, China, Indonesia, Vietnam, Japan, and several European nations. This expansion not only signifies their commitment to growth but also emphasizes their reputation as a reliable performer in the industry.

As Coway looks to the future, it remains firmly focused on maintaining a robust governance structure that fosters trust and growth, ensuring that both the company and its shareholders prosper in an ever-evolving marketplace. For those interested in reading further about Coway's initiatives, visit Coway’s Website or their Newsroom.