Coway claims 2025 triple crown in brand rankings

Coway, a leading South Korean appliance company, announced Thursday that it ranked high in key brand evaluations for 2025, demonstrating strong market trust. In Brandstock’s "Korea's Top 100 Brands” for the first quarter this year, Coway ranked 32nd, climbing three spots from the previous quarter. The rankings are based on the evaluation company’s Brand Stock Top Index, which consults over 1,000 brands across 230 industries through consumer surveys and market data. Coway also dominated the 2025 Korea Brand Star Awards, securing the No. 1 position in the water purifier category for the 20th consecutive year, and in air purifiers and bidets for the 21st consecutive year — earning it a prestigious triple crown in Brandstock’s value certification program. In addition, Coway placed first in the 2025 Korea Brand Power Index for the 27th straight year in water purifiers — the longest-standing record in Korea’s home appliance sector. It also earned top honors for a 23rd consecutive year in both the air purifier and bidet categories. These results reflect Coway’s continued investment in innovative product lines such as the Icon and Noble water purifiers, the premium LooLoo Double Care Bidet 2, and the Berex smart sleep care line. The company recorded a 14.1 percent on-year increase in domestic rental sales in 2024, reaching 1.71 million units. A Coway spokesperson said, “These rankings demonstrate our customers’ lasting trust. We will continue delivering innovative, health-conscious solutions that enhance daily life.”

Coway Holds 36th Annual General Meeting to Further Strengthen Shareholder Trust Through Sustainable Growth

SEOUL, South Korea, March 31, 2025 /PRNewswire/ -- Coway Co., Ltd., the "Best Life Solution Company," has announced that it has today held its 36th Annual General Meeting (AGM) at its Yugu office in Gongju City, Chungcheongnam Province, South Korea. During the AGM, shareholders approved key agenda items that included the ratifying of financial statements, consolidated financial statements and statements of the appropriation of retained earnings; the appointment of outside directors; the appointment of audit committee members; the approval of limitations on directors' remuneration; and capital reduction for the purpose of treasury shares' cancellation. Shareholders also rejected Align Partners Capital Management Inc.'s ("Align Partners") proposal to introduce a cumulative voting system. A Coway official stated, "Our shareholders have reaffirmed that the current board operation ensures sufficient operational independence and transparency, making it suitable for ongoing sustainable growth and shareholder value enhancement." As part of its mid-to-long-term shareholder return policy, Coway approved the retirement of approximately 650,000 treasury shares. The company also announced plans to continue repurchasing and canceling treasury shares to significantly increase the total shareholder return rate from 20% to 40%, alongside other measures designed to further enhance shareholder value. This year's AGM also saw Coway appoint Jungho Kim, Professor at the Graduate School of International Studies of Korea University, and Taehong Kim, CEO of Growth Hill Asset Management Co., Ltd., as new outside directors, while Gilyeon Lee was reappointed to the same role. Taehong Kim and Gilyeon Lee have also been appointed as audit committee members, while Align Partners' nominee for outside director and audit committee member voluntarily resigned, resulting in the agenda item's dismissal. Jangwon Seo, CEO of Coway, said, "Increased investment in R&D to the end of developing innovative products and technologies has resulted in strong sales growth for our Icon water purifier series and BEREX mattress and massage chair range across both domestic and global markets, reinforcing our status as stable performers within the market. Moving forward, we will work to further strengthen our core businesses, enhance shareholder returns and advance governance in order to increase corporate value and shareholder trust." About Coway Co., Ltd. Established in Korea in 1989, Coway, the "Best Life Solution Company," is a leading environmental home appliances company making people's lives healthy and comfortable with innovative home appliances such as water purifiers, air purifiers, bidets, and mattresses. The company's most recent venture, the BEREX brand, aims to improve sleep and wellness through cutting-edge mattresses and massage chairs. Since being founded, Coway has become a leader in the environmental home appliances industry, with intensive research, engineering, development, and customer service. The company has proven dedication to innovation with award-winning products, home health expertise, unrivaled market share, customer satisfaction, and brand recognition. Coway continues to innovate by diversifying product lines and accelerating overseas business in Malaysia, USA, Thailand, China, Indonesia, Vietnam, Japan, and Europe, based on the business success in Korea. For more information, please visit http://www.coway.com/ or http://newsroom.coway.com.

Spruce up your home for spring

Seoul Living Design Fair at Coex brings together 501 leading lifestyle, interior design brands from Korea and overseas Look around your home for a minute -- from your bedrooms and kitchen to the bathrooms -- is it looking a little dull now in the last days of winter? Rearranging your furniture could give your rooms a whole new vibe, or you could freshen things up by adding fresh flowers or stylish updates. With spring about to blossom, if you're seeking to refresh your home, there is no shortage of inspiration at the Seoul Living Design Fair running through Sunday at Coex Convention Center in southern Seoul, where 501 Korean and international brands are displaying the top lifestyle and interior design trends. The five-day exhibition, held under the theme "The Romance of Life," sheds light on how a home can be more than a place to live, but a personal space reflecting one's identity and values. Visitors will get a fresh take on what their ideal home might be. From under-the-radar to well-known designer brands, visitors can enjoy looking for a creative spark to help them prepare their homes for spring. "Interior design styles have changed a lot over the years, and people's approach to furniture has changed, too. People now choose furniture based on their personal taste, style and design preferences -- even if it's pricey," Kim Ji-hyun, team leader at Towed, told The Korea Herald. This is the fourth year the brand is participating in the event. "Just like the fair's theme, I can tell that customers who stop by Towed's booth -- whether they're in their 20s or their 50s -- look for furniture designs that match their tastes," Kim said. ILKW by Ilkwang Lighting -- described as a brand that creates light with craftsmanship -- was a crowd favorite. People lined up to see the company's new products, such as table lamps, pendants and laptop docking stations. The products are modest in size but monumental in flair, which is a good match for those looking to make their rooms stylish and modern with just a tiny change. There was a line in front of Coway to try out the company's Berex Reclining Massage Bed, which features a reclining function that ensures a convenient and safe massage experience. The booth for Greenmoor, which offers gardening-related products inspired by British aesthetics, was also packed with visitors looking for English-style flower pots, door stoppers, cushions and watering cans, to name a few. Just as perfume or cologne completes a fashionable outfit, a scent can add a finishing touch to a home. At Kaylin Leo, a home fragrance brand, visitors were busy sampling an array of scents in the form of room sprays, fabric perfume, diffusers and aroma candles to find just the right fragrance to match their home.

Coway shareholders question Align after boardroom failure

Korean activist fund Align Partners has come under increased scrutiny following its failed nomination of a boardroom director at Coway, the home appliance company and the latest target of Align's shareholder activism. On Monday, Align withdrew its nomination of Lee Nam-woo, chairman of the Korea Corporate Governance Forum, for a position as an outside director and audit committee member on Coway’s board after it was discovered that he already held similar roles at three other companies. Earlier, Coway argued that Lee was ineligible for the position, citing regulations that prohibit individuals from holding more than two outside director or auditor roles simultaneously. “We will move forward with full preparations to appoint three outside directors and audit committee members to strengthen the board’s independence,” a Coway official said. "We will enhance our governance practices by appointing qualified professionals with expertise in financial capital and global business." Ahead of Coway’s general shareholders meeting scheduled for March 31, Align, which holds a 2.84 percent stake in the company, has been intensifying its activist campaign, rallying support from minority shareholders. Align has called for the adoption of a cumulative voting system for electing board members, arguing that Coway’s largest shareholder, gaming company Netmarble, which has a 25 percent stake, wields excessive control over management. The cumulative voting system allows shareholders to concentrate their votes on one or more candidates instead of distributing them equally, thereby increasing the influence of minority shareholders in corporate governance. However, Align’s nomination failure is expected to undermine its activist efforts. The fund has also recently faced criticism for abruptly withdrawing its demand for Coway to return 90 percent of its consolidated net income to shareholders — more than double the original 40 percent payout plan — without providing a clear explanation. “If a board candidate is nominated without a basic verification that he or she is legally qualified, it’s only natural that minority shareholders will lose confidence in the fund,” an industry official said.

Live well, die well: As Korea ages, investors turn to funeral services

After years of restructuring, funeral industry explores new growth strategies South Korea’s funeral service industry is entering a new phase as sector-wide restructuring nears completion and new players join the market to target all-inclusive care for older people in an increasingly “super-aged” society. The sale of Preed Life, the country’s largest death care service provider, currently owned by private equity firm VIG Partners, is expected to mark the conclusion of the government-led industry reorganization. On Monday, VIG Partners announced that it had selected Woongjin Group, a mid-sized education-to-IT conglomerate, as the preferred bidder to acquire Preed Life. With the deal expected to close in May, competition for market leadership is expected to intensify, as industry players are increasingly diversifying their services into areas such as travel, digital funerals and home appliance rentals. VIG's early bet The funeral services market has been rapidly evolving, with nearly two in 10 South Koreans (8.92 million people) subscribed to prepaid funeral plans as of 2024. VIG Partners recognized the sector’s growth potential early and began investing when the market was still undervalued. The firm made four major acquisitions, starting with Joun Life in 2016, followed by two more firms in 2017 and 2019. “Back then, the industry was highly fragmented, with many firms run by individuals and some funeral service providers facing insolvency. We saw an opportunity for large-scale, trustworthy operators to meet the demand,” a VIG official said. In 2020, VIG acquired Preed Life and consolidated its previous acquisitions under the Preed Life brand, establishing the country’s leading post-death service company. “With Preed Life at the forefront, the industry is shifting beyond traditional funeral services toward becoming a comprehensive life care industry,” the official added. The wave of industry restructuring gained momentum in 2019 when the government tightened regulations on funeral service operators following an increase in consumer complaints about poorly managed firms. As a result, the number of registered funeral service providers plummeted from 230 in 2015 to just 78 in 2024, with smaller, financially unstable firms exiting the market, leaving the industry dominated by larger, more professionalized companies. Growing interest in dying well As the nation's population ages and interest in end-of-life planning grows, new players are seizing emerging business opportunities in the funeral industry. “The rise of the culture around 'dying well' and the growing number of elderly single-person households are key drivers of the funeral industry’s expansion,” said Park Do-hwi, a senior researcher at Samjong KPMG, in a report. Industry data confirms this growth trend: the total value of prepaid funeral installment plans surged 170 percent over the past decade, reaching 9.45 trillion won ($6.55 billion) in 2024. Since 2010, the industry has shifted toward bundling services, offering funeral plans packaged with home appliances, furniture and even luxury cruises, according to the KPMG report. “A recent trend is the introduction of convertible funeral plans, allowing customers to exchange prepaid funeral services for education, travel or marriage-related services. Companies are also entering new markets, such as pet funerals and memorial jewelry,” Park explained. New players, new services Several nontraditional players are entering the industry, leveraging their existing customer bases and infrastructure to diversify funeral-related services. Coway, a leading home appliance rental firm, is tapping into the funeral service industry, capitalizing on its strong rental customer base of over 10 million users and its 12,000 door-to-door salespeople nationwide. In January, Coway launched a pilot program bundling home appliance rentals with prepaid funeral services. The hybrid subscription model allows customers to pay for both services simultaneously and convert their payments into funeral, travel or elder care services as needed. Daekyo Newif, initially launched in 2022 as Daekyo’s senior care brand, became an independent entity in 2023, expanding its offerings from daycare and home visitation services to funeral assistance memberships. Unlike most funeral service providers, which require prepaid installment plans, Daekyo Newif offers a post-payment model, allowing families to pay for funeral services after the event, reducing the financial burden on consumers. The COVID-19 pandemic accelerated the rise of digital funeral services, prompting major industry players to embrace technology-driven memorial solutions. Boram Sangjo, the second-largest funeral service provider in Korea, has expanded into digital funeral services, offering: online memorial halls for remote condolences, mobile obituary notifications, LED digital memorial portraits and memorial jewelry made from biological elements of the deceased such as hair and nails.

Coway Expands Cylindrical Air Purifier line with new Airmega 350 & Airmega 450, Featuring Breakthrough HyperVortex™ Filtration System

Advanced filtration, Sleek design, and customizable filters for personalized air care LOS ANGELES, Feb. 20, 2025 /PRNewswire/ -- Today, Coway, a leading wellness tech company, announced the launch of Airmega 350 and Airmega 450, the two newest cylindrical air purifiers to its award-winning lineup. Designed with a sleek, minimalist aesthetic, these new models effortlessly blend into any home environment while delivering powerful, personalized air purification. Backed by over three decades of research and the expertise of more than 400 researchers at Coway's R&D Center in Korea, the Airmega 350 and 450 introduce the revolutionary HyperVortex™ filtration system. This advanced system optimizes airflow, enhances filtration efficiency, minimizes airflow loss, and reduces noise levels, delivering cleaner air. Both models capture 99.999% of nano-sized particles down to 0.01 microns, effectively removing allergens, bacteria, mold, and viruses. Coway's new 3-in-1 customizable filter system allows users to tailor their air purification experience to their specific needs: Fresh Starter+ (captures harmful gases and unwanted odors, including food smells and VOCs), Allergen+ (targets common allergens like pollen, dust mites, fungi, and pet dander) and Intense Smoke+ (effectively removes smoke from wildfires, vehicle exhaust, and industrial fumes). These filters, combined with an activated carbon filter and Green True HEPATM filter, require replacement just once a year, ensuring hassle-free maintenance. The Airmega 350 delivers a complete air change every hour in spaces up to 2640 square feet, about the size of a single family home or large office, while the Airmega 450 covers up to 3285 square feet, comparable to a spacious furniture showroom or large family home. Both are engineered for efficient air purification, swiftly improving air quality in large rooms, open-concept living spaces, and offices, while working even faster in smaller areas. The Airmega 350 and 450's array of scientifically-backed features include: The Airmega 350 and 450 are available in beige and white, designed to complement any decor. Key convenience features include: The Airmega 350 ($339) and Airmega 450 ($499) are available for purchase at cowaymega.com or Amazon. About Coway Coway (S.Korea: KRX 021240) is the leading wellness tech company behind award-winning product lines including Airmega air purifiers, Bidetmega for bathrooms, and Aquamega water purifiers. Coway was founded in Korea in 1989 and has maintained an obsession with home health for over three decades. The company has grown into a global leader in intensive research, engineering, and innovation, amassing more than 6,800 intellectual property rights for its proprietary technology. The Coway R&D Center, the company's environmental technology research institute, is Asia's largest lab dedicated to air, water, and sleep technologies. A team of over 400 researchers collaborate there to design, develop, and test cutting-edge products that help people live healthier. Coway's U.S. headquarters is located in Los Angeles, California. For more information, visit https://cowaymega.com or http://newsroom.coway.com.

Coway Unveils Corporate Value-Up Plan with Revenue Target of KRW 5 Trillion in 2027

SEOUL, South Korea, Feb. 18, 2025 /PRNewswire/ -- Coway Co., Ltd., the "Best Life Solution Company," has officially launched its Corporate Value-Up Plan, reaffirming its commitment to the sustainable enhancement of shareholder value. Following the announcement last month of increasing its total shareholder return rate from 20% to 40%, Coway is now introducing additional strategic initiatives aimed at bolstering corporate value. In a board meeting held on February 13th, Coway identified four key indicators for enhancing sustainable shareholder value: continuous growth, shareholder returns improvement, appropriate capital structure, and governance sophistication. Based on these indicators, the company has formalized its corporate value enhancement strategy, namely its Corporate Value-Up Plan. Driving Continuous Growth: Setting Revenue Goals Exceeding KRW 5 Trillion in 2027 Coway is aiming for a compound annual growth rate (CAGR) of 6.5% from 2025 to 2027, with the goal of exceeding KRW 5 trillion in revenue in 2027. To achieve this target, the company will focus on core business advancements, global business expansion, new brand growth and new business initiatives. Coway plans to enter new markets and establish local subsidiaries, implementing tailored marketing strategies in order to enhance global brand recognition. The company will also develop localized products and services to strengthen its competitiveness within the global market. Coway will also expand its product lineups and enhance its customer experience marketing through its sleep and wellness brand, BEREX. The company aims to increase its offline channel offering in order to strengthen customer experience in South Korea, as well as to enhance overall BEREX brand awareness through targeted marketing campaigns. Furthermore, Coway is set to enter the silver care (elderly care) sector in South Korea in order to explore various new business opportunities for sustainable growth. Through its new subsidiary Coway Life Solutions, established in October of 2024, the company will introduce next-generation elder care services within the first half of 2025. Coway will also be actively pursuing strategic partnerships and technological collaborations to further expand new business opportunities. Coway will continue to enhance its core offerings by developing innovative products and expanding its investments in R&D, IT, marketing, and consumer services. The company will also drive advancements in the digital space in order to strengthen its channel competitiveness and operational efficiency. Improving Shareholder Returns: Increasing the Total Shareholder Return Rate to 40% Coway is committed to balancing sustainable shareholder returns, corporate growth, and financial stability by maintaining a well-balanced allocation between shareholder returns and reinvestments in future growth. The company will significantly increase its total shareholder return rate from the previous 20% of consolidated net income to 40%. This includes cash dividends and treasury stock purchase/retirement. Specifically, in FY2024, Coway will allocate 33% to cash dividends and 7% to treasury stock purchase/retirement, based on the 40% total shareholder return ratio. From FY2025 to FY2027, the company will maintain the 40% shareholder return rate while adjusting the proportion of cash dividends and treasury stock purchase/retirement in consideration of total shareholder return. A Coway official stated, "The 40% shareholder return rate was derived by forecasting actual expected cash inflows and outflows from this year through 2027. Based on these projections, we identified an optimal balance between operating cash flow and financial leverage while also considering various factors, such as the balance between shareholder returns and investments for future growth." Optimized Capital Structure: Maintaining an Appropriate Net Debt-to-EBIT Ratio Coway has also established new financial guidelines designed to ensure the company's financial stability. Coway plans to utilize an appropriate level of financial leverage, taking into account its repayment capabilities based on operating performance and accelerating the timing of shareholder returns on investment outcomes. Accordingly, the company plans to manage its net debt-to-EBIT ratio up to 2.5 to ensure financial stability while keeping financial burdens at a manageable level. Enhanced Governance: Strengthening Board Independence and Diversity Coway is committed to advancing its corporate governance practices. The company will seek to raise its key governance indicator from 53% in 2024 to 87% by 2026, significantly exceeding the 2023 market average of 49.5%. Key governance indicators, particularly those related to shareholder interests, will be prioritized for improvement. Coway is committed to further enhancing the independence of its board of directors (BoD) while promoting greater diversity. Since 2023, the company has implemented board independence guidelines to strengthen transparency and accountability. Going forward, Coway plans to increase both the number and proportion of outside directors and appoint highly qualified individuals with diverse expertise to advance corporate governance standards. "Coway's Corporate Value-Up Plan provides a robust foundation for sustainable growth, benefiting both the company and its shareholders," said Jangwon Seo, CEO of Coway. "We are committed to reinforcing shareholder-friendly management while simultaneously implementing a range of strategies aimed at enhancing corporate value and securing sustainable growth." For additional details about Coway's Corporate Value-Up Plan, please visit the company's Investor Relations page. About Coway Co., Ltd. Established in Korea in 1989, Coway, the "Best Life Solution Company," is a leading environmental home appliances company making people's lives healthy and comfortable with innovative home appliances such as water purifiers, air purifiers, bidets, and mattresses. The company's most recent venture, the BEREX brand, aims to improve sleep and wellness through cutting-edge mattresses and massage chairs. Since being founded, Coway has become a leader in the environmental home appliances industry, with intensive research, engineering, development, and customer service. The company has proven dedication to innovation with award-winning products, home health expertise, unrivaled market share, customer satisfaction, and brand recognition. Coway continues to innovate by diversifying product lines and accelerating overseas business in Malaysia, USA, Thailand, China, Indonesia, Vietnam, Japan, and Europe, based on the business success in Korea. For more information, please visit http://www.coway.com/ or http://newsroom.coway.com.

Align Partners under fire for inconsistent activist demands on Coway

Korean activist fund Align Partners unexpectedly withdrew its demand for a 90 percent shareholder return rate from Coway in its final submission on Thursday, raising concerns in the industry that the fund may be prioritizing management influence over shareholder value. On Jan. 7, Align Partners had strongly pushed for Coway to return 90 percent of its consolidated net income to shareholders — more than double the 40 percent return rate the company had announced the previous day. However, in its final proposal, the fund dropped its demands regarding shareholder returns and capital allocation, while still advocating for the implementation of a cumulative voting system and the appointment of outside directors. “Align’s decision to withdraw its core demand contradicts its previous stance, making it an inconsistent move that could undermine credibility," said a financial investment industry official. "If the fund claims to represent minority shareholders, it should maintain a clear direction." In 2013, after MBK Partners became Coway’s largest shareholder, taking over from Woongjin, the company increased its dividend payout ratio from around 40 percent to 90 percent. However, after Netmarble took over as the largest shareholder in 2020, the payout ratio dropped to around 20 percent. “We lowered the dividend payout to 20 percent because we believed our investments in research, development and key design areas were insufficient at the time," a Coway official explained. "After addressing these issues, we raised it back to around 40 percent in January.” The official expressed concern that Align Partners' shifting demands regarding the shareholder return rate could confuse investors and deviate from the long-term growth interests of those who have invested in the company. Align Partners explained that it withdrew its shareholder return proposal to give Coway’s board and management the opportunity to present a “credible value-enhancement plan” that shareholders could accept. In response, Coway said it would review the proposal to ensure it meets legal requirements before including it in the agenda for the general shareholders' meeting in March.

Coway Issues Official Statement Responding to Align Partners' Shareholder's Proposal

SEOUL, South Korea, Jan. 23, 2025 /PRNewswire/ -- Coway Co., Ltd., the "Best Life Solution Company," has issued an official response to the shareholder's proposal of Align Partners Capital Management Inc. ("Align Partners"). Align Partners submitted its proposal to Coway via Seoul-based law firm Hannuri Law LLC on January 7th, before issuing its public shareholder letter on January 16th, 2025. The company then issued a response to the shareholder's proposal through Align Partners' law firm, Hannuri, on January 21st and simultaneously posted the response on the company's investor relations (IR) website. The shareholder's proposal requested a dividend rate that represents approximately 90% of the company's consolidated net income. This figure significantly exceeds the target shareholder return rate of 40% as outlined in Coway's shareholder return policy announced on January 6th, which takes into consideration the company's financial stability and long-term growth. In its response, Coway reported the receipt of Align Partners' 90% dividend rate proposal and the details thereof to its board of directors and plans to submit it to the general meeting of shareholders as per due process. The company also stated that its own agenda on a shareholder return rate will be determined and submitted separately, following a comprehensive consideration of finalized financial statements, the progress of an external audit, and the company's proposed shareholder return rate of 40% as recently announced through its fair disclosure. Jangwon Seo, CEO of Coway, said, "We will make every effort to maximize shareholder value through continuous performance generation, and we ask for your continued trust and support for the company's sustained growth." About Coway Co., Ltd. Established in Korea in 1989, Coway, the "Best Life Solution Company," is a leading environmental home appliances company making people's lives healthy and comfortable with innovative home appliances such as water purifiers, air purifiers, bidets, and mattresses. The company's most recent venture, the BEREX brand, aims to improve sleep and wellness through cutting-edge mattresses and massage chairs. Since being founded, Coway has become a leader in the environmental home appliances industry, with intensive research, engineering, development, and customer service. The company has proven dedication to innovation with award-winning products, home health expertise, unrivaled market share, customer satisfaction, and brand recognition. Coway continues to innovate by diversifying product lines and accelerating overseas business in Malaysia, USA, Thailand, China, Indonesia, Vietnam, Japan, and Europe, based on the business success in Korea. For more information, please visit http://www.coway.com/ or http://newsroom.coway.com.

[Best Brand] Building brand power

Brand power is a measure of a brand's strength and reputation in the market and is often determined by three key factors: meaningfulness, difference and salience. It can be defined as the ability of a brand to influence consumer behavior and create a strong emotional connection with its target consumers. Merely offering good-quality products can no longer attract customers. Consumer trust and loyalty are hard to come by, but once earned they are a company’s most valuable assets. Every year since 1994, The Korea Herald has released lists of the best brands across different categories that represent South Korea. Having achieved brand growth, this annual feature touts the companies that have excelled in their respective fields. -- ED. Samsung Biologics ascends to global top-tier CDMO CDMO SAMSUNG BIOLOGICS Samsung Biologics, the biotech arm of Samsung Group, has shown a remarkable growth trajectory as a major player in the global contract development and manufacturing organization market over the past four years. With John Rim at the helm as CEO since late 2020, bringing 35 years of experience in the global biopharmaceuticals industry and an extensive network, the company has consistently pursued innovation, breaking records in orders and sales. Rim's management philosophy is built upon four key pillars: customer excellence, operational excellence, quality excellence and people excellence. Samsung Biologics became the first in Korea's biopharmaceuticals industry to surpass 3 trillion won ($2.06 billion) in sales in 2022 and to achieve 1 trillion won in annual operating profit last year. The company is projecting record-high sales of 4.34 trillion won for this year, a new benchmark for its financial performance. The company’s position as a key player in the global pharmaceutical supply chain is shown in its client base, serving 17 of the world's top 20 pharmaceutical companies, a remarkable leap from 2018, when it served just three. Earlier this year, the company signed three megasized deals each exceeding 1 trillion won, pushing annual orders beyond 5 trillion won. Its cumulative orders have exceeded 11.8 trillion won from 2021 to this year. The company has also aggressively expanded its production capacity, completing Plant 4 in 2022, which brought its total capacity across four plants to 604,000 liters. In the same year, the company announced a 7.5 trillion won investment plan to construct four additional plants. The fifth plant, scheduled for completion in April 2025, will increase the company’s capacity to 784,000 liters, achieving the largest capacity in the world. Once all new plants are completed, total production capacity is projected to reach 1.34 million liters. Samsung Biologics is quick to adapt to the needs of its clients. For example, during the COVID-19 pandemic, the company produced Moderna's mRNA vaccine finished drug products within an unprecedented time frame of just five months. This rapid response capability is matched by the company's rigorous quality standards, with global regulatory agency approvals rising from 94 in 2020 to 339 as of October, and its manufacturing operations achieving a 99 percent batch success rate. Diversifying its service offerings, the company is pursuing portfolio expansion for future growth, adding four new contract development platforms this year, including S-AfuCHO and S-HiCon, bringing the total to nine contract development platforms and services. As part of the effort, it has also focused on strengthening its Antibody-Drug Conjugates service capabilities by building dedicated production facilities and making strategic investments in companies with cutting-edge ADC technology. CEO Rim pledged to maintain the company’s innovative spirit while advancing key technologies and strategically investing in promising companies. Hansung Enterprise takes K-seafood global GENERAL FOODS COMPANY HANSUNG ENTERPRISE Hansung Enterprise, a general food company in Korea, was established in 1963 as a fishery. More recently, it has collaborated with the US, Argentina and Russia to expand its global reach. Earlier this month, the dcompany received the $30 Million Export Tower Award from the Korea International Trade Association in recognition of its exports to 26 countries, including China, the Philippines and Australia. In 2001, Hansung introduced Crami, a crab-flavored surimi product. As part of its efforts in sustainability, the company launched a larger-sized crab product that earned MSC Chain of Custody Standard certification in 2018. The product was also named Best Brand at the MSC Korea Awards for three consecutive years. Over the decades, Hansung has diversified its offerings with products like salted seafood (jeotgal) and German-style ham and sausages. To further enhance food safety management, the company has obtained HACCP certification and implemented advanced systems such as FSSC 22000 and bio-clean rooms. Hansung began pollock fishing in the Bering Sea in the Northern Pacific Ocean in 1969 as one of Korea’s pioneers in deep-sea fishing. The company currently operates an extensive fleet, including trawlers, longliners and jigging vessels, to distribute imported marine products and to export domestically sourced seafood. “We place customer satisfaction and enjoyment at the heart of our business,” said a company official. “Building on our reputation for customer trust and strong partnerships, we aim to achieve even greater success in the coming decades.” Ib Korea taps into Korean spirits market with premium cocktails LIQUOR THE IB KOREA The Ib Korea, the exclusive importer of the US cocktail brand Uptown, is expanding its presence in the Korean spirits market by offering ready-to-drink beverages that blend premium flavors with convenience. Among its offerings, Uptown Margarita, crafted with 100 percent agave wine, has gained attention for its richer and more complex flavor compared to vodka-based alternatives. The cocktail, which combines natural lime and sweet fruit notes, has broad appeal and can be customized with tonic water or sparkling water for added versatility, the company said. Ib Korea has also introduced Uptown Blue Hawaiian, a tropical cocktail featuring a blend of coconut, pineapple juice and citrus flavors. The vibrant drink is described as evoking the taste of a beachside vacation, making it a popular choice for casual home gatherings, according to Ib Korea. Last year, the company introduced BuzzBallz, a line of mini cocktails packaged in distinctive fruit-shaped bottles. Available in flavors such as lime, strawberry and peach, the compact 187-milliliter drinks have proven popular with younger consumers for their portability and playful design. In October, Uptown Caribbean Punch made its debut in Korea, combining cherry and pineapple flavors with a bold red hue. Known for its lively aroma and refreshing taste, the cocktail is now available at major retailers such as Homeplus and Lotte Mart. Looking ahead, Ib Korea plans to expand its offerings further with premium products like Emperador, a sherry-cask-aged Spanish brandy, as part of its strategy to tap into Korea’s growing interest in home cocktail culture. SaintFran rises as global K-beauty innovator COSMETICS SAINTFRAN SaintFran, a premium aesthetic beauty brand blending traditional Korean and French aesthetic techniques, is carving a niche in the global beauty market with its focus on safe and effective antiaging solutions. Known for its signature ingredient, Skin-Factors 10, this proprietary formulation condenses 10 essential components that naturally diminish over time, replenishing them to the skin for a targeted antiaging effect. This innovative approach underscores SaintFran’s commitment to delivering products that prioritize both efficacy and safety, the company explained. Recently, the brand partnered with France’s renowned aesthetic group, Aesthetic 16, as part of its effort to globalize K-beauty. With Europe’s CPNP certification secured, SaintFran said that it has gained international recognition for its quality and safety standards, further strengthening its foothold in the global market. “Positive feedback from consumers has played a critical role in enhancing SaintFran’s brand loyalty and trustworthiness,” SaintFran CEO Seo Hyun-young said, highlighting the brand’s growing reputation for excellence in design, quality and social responsibility. In Korea, the company is aggressively expanding its reach through diversified distribution channels, including home shopping platforms. “We are dedicated to exceeding customer expectations with superior quality and innovation, continuously striving to deliver greater value,” Seo added. Looking ahead, SaintFran plans to further solidify its position in the global beauty industry by introducing innovative products and services. “As a premium beauty brand, we aim to grow further and establish ourselves as a brand that consistently exceeds consumer expectations while delivering unparalleled value,” Seo said. 1897MG unveils genderless fragrance Auromigo PERFUME 1879MG 1879MG, a South Korean fragrance brand, has unveiled its latest product “Auromigo,” an eau de parfum for all genders. The name Auromigo is a portmanteau of “aroma” and “amigo,” the Spanish word for friend, reflecting the fragrance’s goal to evoke comfort and companionship. Inspired by the tranquility of urban forests, the scent is crafted to offer wearers a refreshing escape from the hustle and bustle of city life, the company explained. Auromigo features a harmonious mix of cedarwood, mandarin, and bergamot, complemented by earthy notes of vetiver, rosemary and pine. This combination is designed to create a sensory experience reminiscent of walking through a serene forest. The use of natural ingredients and a high concentration of fragrance oils ensures a long-lasting and rich aroma. The fragrance was co-developed with Aromaline, a renowned Korean company specializing in fragrance materials for over two decades. Aromaline supplies scents to more than 100 global beauty brands, including d’Alba, Mediheal and Kolmar Korea. “We wanted to create a gender-neutral fragrance that anyone could enjoy,” 1879MG CEO Lee Min-ji said. Coway promotes winter-ready home appliances MASSAGE CHAIR COWAY South Korean home appliance maker Coway has introduced new products designed to improve indoor air quality and provide personal comfort during the winter season. The Dual Clean Humidifier Air Purifier, one of Coway’s flagship products, is designed to tackle dry indoor air and poor air quality in winter. According to Coway, the device integrates a four-stage filtration system -- featuring a pre-filter, air matching filter, deodorization filter and fine dust collection filter -- to remove up to 99.99 percent of ultrafine dust particles. It also provides three operational modes: general air purification, purification with humidification and multi-mode cleaning, allowing users to adapt to varying air quality needs. For added convenience, the humidifier includes an easily detachable water tank and reservoir for daily maintenance. The top handle allows users to remove the water tank, while the reservoir slides out from the front panel for quick cleaning. The Berex Mine massage chair, launched earlier this year, offers a compact yet functional solution for winter relaxation, Coway said. The chair, which is 49 percent smaller than previous models, features a 180-degree rotating calf module equipped with airbags and pressure-point technology for targeted leg massages. The massage chair also includes shoulder sensors that adjust the device to match the user’s body dimensions, providing customized massages. Its 2Zone heating system warms the back and hips up to 70 degrees Celsius, catering to users looking for warmth during the winter, according to the Korean company. Additional features include reclining functionality up to 141 degrees, Bluetooth speakers and a USB charging port, making it a versatile option for home use. “Coway’s practical and functional products are designed to help create a warm and healthy living environment during the colder months,” a Coway official said. In the meantime, Coway is offering a special year-end promotion, allowing customers to rent its five best-selling products at discounted rates until the end of this month. This includes the Icon Water Purifier 2, Icon Ice Water Purifier, Noble Air Purifier 2, Berex Pebble Chair and Prime Bidet (BA36-B). Following the milestone of surpassing 1 million cumulative sales of its Icon series water purifiers, Coway offers 50 percent off rental fees for the Icon Water Purifier 2 and Icon Ice Water Purifier during the first six months. Customers who rent the Icon Water Purifier 2 under the self-management plan with a seven-year contract can save 515,200 won ($355). And those opting for the Icon Ice Water Purifier with a six-year rental plan can receive a 588,700 won discount. The Noble Air Purifier 2 is also included in the promotion, offering a 352,000 won discount for those who sign a seven-year contract. The Berex Pebble Chair comes with a 385,900 won discount for a five-year rental plan. Additionally, customers renting the Prime Bidet can enjoy a 50 percent reduction in rental fees for the first nine months of their contract. 100 Classics brings literature to heart of English learning EDUCATION 100 CLASSICS Seoul-based English education platform 100 Classics offers a distinctive approach to language learning through its specialized curriculum that emphasizes reading, writing and discussion skills, with all programs centered on carefully selected literature. The curriculum boasts a systematic approach with 12 levels tailored to diverse English proficiency levels. It incorporates literary works recommended by prestigious US schools and American education associations, along with a unique essay workbook developed in collaboration with global education experts. Interactive programs such as quizzes, games and presentations are also part of the curriculum, encouraging learners to articulate their ideas and collaborate effectively with peers in dynamic learning environments. Beyond its core classes, 100 Classics hosts various seasonal events, including student reporter activities, book club challenges and an English presentation competition featuring Japanese participants. “Our program is designed not only to improve English proficiency but also to develop creativity, critical thinking and global communication skills essential for future leaders,” a 100 Classics official said. “We are committed to consistently supporting students with a robust curriculum, helping them confidently showcase their abilities.” 100 Classics has produced numerous high achievers in English language-based exams such as TOEFL, SAT and SSAT, with many earning admission to prestigious boarding schools and top international universities. Yangmyeong enhances dried seaweed product lineup in global push SEAWEED YANGMYEONG Yangmyeong, the company behind the King of Kim dried seaweed brand, is bolstering its global push with a more diversified product lineup, as Korea's dried seaweed, typically called "gim" here, has become a popular food export item in recent years. Among its latest additions is a dried seaweed product roasted with avocado oil. An outcome of almost three years of research and development, the new product boasts higher protein as it uses top-quality seaweed selected through a special protein measurement system, the company said. “We ensure that only the finest quality seaweed is used in our production,” a Yangmyeong official said. Yangmyeong is also expanding its global reach under the King of Kim brand. Its products are now available in major international retail outlets, including SM Mall and Ali Mall in the Philippines and Big C Mart in Vietnam, as part of its efforts to promote Korean dried seaweed products in overseas markets. Additionally, the company has secured over 19,000 square meters of land in the Saemangeum Marine Food Export Processing Complex in Gunsan, North Jeolla Province. This site, part of a larger 133,000-square-meter project, will host South Korea’s largest dried seaweed production and processing plant. Since its establishment in 2017, Yangmyeong has been committed to raising the standards of seaweed products and solidifying King of Kim as a trusted global brand, it said. “We strive to become a global leader in safe and reliable food culture,” the company official added. Yamaha Motor seeks to redefine racing culture in Korea MOTORCYCLE MANUFACTURER YAMAHA MOTOR Launched in 1955, Yamaha Motor will celebrate its 70th anniversary in the upcoming year. The company’s journey began with motorcycle racing to showcase the performance and reliability of its products. Yamaha was originally founded as a Japan-based reed organ manufacturer under the name “Nippon Gakki.” While gradually expanding its market share, the company began developing prototype four-stroke gasoline engines in 1953 to expand into the motorcycle industry. At that time, Japan was home to approximately 300 motorcycle manufacturers. With plans to target the global market, Yamaha invested in research and development for two-stroke, 125cc engines. In 1955, Yamaha Motor produced its first motorcycle, the YA-1, by leveraging the casting expertise it had gained from piano frames. That same year, the YA-1 claimed victory at the 3rd Mt. Fuji Hill Climb. It also secured the top three spots at the 1st Asama Highlands Race and dominated the 4th Mt. Fuji Hill Climb, sweeping the top eight positions. Yamaha Motors believed that racing success was the best way to demonstrate product quality. In 1958, the company's two-stroke, two-cylinder machine participated in the Catalina Grand Prix in the US. And the following year, a sports model named YDS-1 was developed from its racing experience. In the 1960s, Yamaha unveiled innovative models like the RZ250, which featured two-stroke, two-cylinder engines with water cooling, and the TZR250, a flagship racing replica. Yamaha’s motorcycles have earned a reputation for their low center of gravity and finely balanced chassis. Early models such as the YA-1 and YDS-1 laid the foundation for the company’s nickname, “Handling Yamaha.” And their racing heritage continues to influence the latest models like YZR-M1. Seoul Cyber University shapes AI-based educational transformation ONLINE UNIVERSITY SEOUL CYBER UNIVERSITY Seoul Cyber University, South Korea's first online university, is setting new standards for higher education by adopting innovative, AI-driven learning solutions. As part of this initiative, the university is utilizing AI technologies to enhance the delivery of higher education. For example, SCU plans to introduce AI-powered lectures in 2025, featuring virtual instructors built with text-to-speech technology and modeled on real professors. These AI instructors will provide consistent, engaging, and personalized learning experiences under any circumstances. As part of its efforts to further improve education, SCU has also developed AI-driven tools such as chatbots and learning tutors to support a student-focused approach. These technologies help create personalized learning experiences, reduce educational gaps, and foster a global, sustainable learning environment, according to SCU officials. Additionally, SCU has introduced an advanced Virtual eXperience content production system to strengthen its online learning infrastructure. This system supports multi-angle recording and real-time streaming of educational content, enabling students to easily select and switch between different perspectives using simple drag-and-swipe actions. The VX system ensures smooth accessibility without requiring additional software and is compatible with a range of devices, including PCs, tablets and smartphones. These developments demonstrate SCU's commitment to excellence in online education, the university said. Since its establishment in 2001, SCU has been recognized as a pioneer in the field, achieving Class-A ratings from the Ministry of Education in evaluations conducted in 2007, 2013 and 2020. Also, over the last five years, the university has maintained its position as the top cyber university in terms of new student enrollments, offering the widest range of programs, with 46 majors across a variety of disciplines.