#South Korea #Shareholder Value #Sustainable Growth #Coway #Gongju

Coway's 36th Annual General Meeting: A Commitment to Sustainable Growth

On April 1, 2025, Coway Co., Ltd., renowned as the “Best Life Solution Company”, hosted its 36th Annual General Meeting (AGM) at its Yugu branch located in Gongju City, Chungcheongnam-do, South Korea. This assembly marked a significant occasion as the company reinforced its commitment to sustainable growth in pursuit of strengthening shareholder trust.

One of the key outcomes of the meeting was the approval of vital agenda items, which included the confirmation of annual financial statements and the appointment of external directors. Furthermore, the resolution concerning the buyback of approximately 650,000 shares was also passed, aimed at enhancing returns for shareholders.

During the meeting, shareholders also decisively rejected a proposal from Align Partners Capital Management to implement a cumulative voting system. A representative from Coway expressed satisfaction with the current board structure, emphasizing that it guarantees operational independence and transparency, thus allowing for continued sustainable growth and improvement of shareholder value.

Under its medium- to long-term shareholder return policy, Coway has committed to ongoing stock buybacks and shareholder returns, with expectations of increasing returns from 20% to 40%. Notably, the company continues to take strategic steps to bolster its shareholder value.

This year’s AGM not only affirmed the appointment of just two new external directors, Jungho Kim, a professor at the Graduate School of International Studies at Korea University, and Taehong Kim, CEO of Growth Hill Asset Management, but also saw Gilyeon Lee being re-elected in the same capacity. Additionally, both Taehong Kim and Gilyeon Lee have become members of the audit committee. Align Partners’ candidate for the external director role voluntarily withdrew, leading to the removal of that agenda item from discussions.

Jangwon Seo, CEO of Coway, stated, “Increased investments in research and development to innovate products and technologies have significantly contributed to robust revenue growth in our Icon water purification series and BEREX mattress and massage chair offerings. This progress has fortified our position as a stable performer in the marketplace.” He added, “Moving forward, we are committed to further strengthening our core operations while enhancing shareholder returns and improving corporate governance to boost corporate value and shareholder confidence.”

About Coway Co., Ltd.

Founded in 1989 in Korea, Coway stands out as a leader in the household appliance industry, committed to enhancing healthful living environments. The company specializes in innovative home appliances, including water purifiers, air purifiers, bidets, and mattresses. Its latest initiative, the BEREX brand, focuses on improving sleep quality and well-being through advanced technology in mattresses and massage chairs.

Through intensive research, development, engineering, and dedicated customer service, Coway has established itself as a leader in the health-promoting appliance industry. Coway is known for its award-winning products, exceptional market share, and high customer satisfaction levels, and continues to innovate by diversifying product lines and expanding operations in Malaysia, the USA, Thailand, China, Indonesia, Vietnam, Japan, and Europe based on its success in the Korean market.

For more details, visit the official websites Coway and Coway Newsroom.