Coway Co., Ltd. announced an annual revenue of KRW 3,664.3 billion in 2021 and KRW 301.6 billion in overseas revenue for the fourth quarter of 2021.
“2021’s solid performance was made possible by our innovations in product, service, and design,” says Jangwon Seo, co-CEO of Coway. “This year, we’ll continue to evolve the innovations and successes we achieved last year.”
Fourth quarter operating profits were up 7.3% year-over-year, reaching KRW 139.2 billion, while annual net profits were up 15% year-over-year, totaling KRW 465.5 billion.
Subsidiaries in Malaysia and the U.S. were growth drivers for the company, growing revenue to KRW 980.2 billion (a 38.3% increase year-over-year) and 169.6 billion (an 11.3% increase year-over-year) respectively. Overseas accounts increased by 33.5% in 2021 to reach 2.58 million. Total accounts, including both global and domestic markets, now total 9.08 million.