Coway Soars in Malaysia

Malaysian Sales Surpass 400 Billion Won in Q1

Water Purifiers and Air Purifiers Sustain 'National Brand' Status

Air Conditioners and Washer-Dryers Take Top Sales Spot

Coway has established a new growth foundation in Malaysia, its core overseas market, through new product lines such as air conditioners, washer-dryers, and beds. Since setting up its Malaysian subsidiary in 2006, Coway introduced the Korean-style 'Cody' service and has become the leading water purifier rental company in the local market. This year marks the 20th anniversary of its entry into Malaysia, and the company is now seeing tangible results in new product categories in addition to its mainstays such as water purifiers and air purifiers.

According to Coway on May 11, the Malaysian subsidiary recorded sales of KRW 406.2 billion in the first quarter of this year, up 23.5% year-on-year. Operating profit increased by 42.3% to KRW 73.1 billion, with an operating profit margin (OPM) of 18.0%. This strong performance was driven by double-digit sales growth in major product groups and a continued surge in revenue thanks to the launch of new products. In particular, robust sales in new product categories were cited as a key driver of the improved results. During the first quarter earnings conference call held on May 8, Coway CEO Seo Jangwon said, "Sales of new categories such as air conditioners, washer-dryers, and beds in Malaysia exceeded expectations. Washer-dryers ranked first in sales in the Malaysian market, and air conditioners also took the top spot for wall-mounted models."

Malaysia accounts for 75% of Coway's overseas sales and more than 30% of the company's total revenue, making it an extremely important market. Coway has been able to establish itself as a "national brand" in Malaysia thanks to the popularity of its water purifiers, air purifiers, and bidets, which remain its main products. However, as market competition intensifies, the company has been expanding its product line into new categories, and its latest results have proven that it has a competitive edge in these areas as well.

One example is Coway's mattress care rental service, launched in 2020. This service, which has gained a foothold in the local market, has been successful thanks to effective localization strategies. A Coway representative explained, "Due to the local culture of upright sitting and the humid climate, there is growing demand for bedding hygiene, which is becoming a new growth driver." In 2023, Coway expanded its lineup by introducing air conditioner rental products. In November of the following year, the company launched the sleep and healing care brand BEREX in Malaysia, introducing massage beds and chairs. In 2025, Coway plans to release smart mattresses, actively targeting the market by leveraging the success know-how of BEREX accumulated in Korea. Washer-dryers launched last year have also attracted strong attention from local consumers.

Local production has also strengthened the competitiveness of Coway's new product lines by stabilizing cost structures. For example, mattresses are produced locally at BEREX Tech Malaysia, a wholly owned subsidiary. Coway CFO Kim Soontae commented, "Local production of certain products has contributed to cost improvements."

This content was produced with the assistance of AI translation services.