Korean home appliance manufacturer Coway posted solid quarterly gains as demand for its water purifiers and air cleaning systems continued to expand both domestically and internationally.
The Seoul-based company reported second-quarter revenue of 1.26 trillion won ($908 million), marking a 16.3% increase from the same period last year, according to its August 8 announcement. Operating profit reached 242.7 billion won ($175 million), up 14.9% year-over-year.
For the first half of 2025, Coway accumulated 2.43 trillion won ($1.75 billion) in sales, representing 16.8% growth, while six-month operating profit totaled 454 billion won ($327 million), climbing 12.1% compared to the prior year period.
The results reflect Coway’s position in South Korea’s home wellness market, where the company has built its business around rental models for water filtration and air purification equipment. Netmarble, the mobile gaming company, acquired Coway in 2019 for 1.74 trillion won, seeking to diversify beyond its core gaming operations.
Coway operates subsidiaries across Malaysia, the United States, Thailand, China, Indonesia, Vietnam, Japan, and Europe, with Malaysia representing its largest overseas market. The company’s international expansion has helped offset slower domestic growth as South Korean household formation rates decline.
The financial performance comes as Coway faces increasing competition from larger appliance manufacturers and questions about the sustainability of its rental-heavy business model in international markets where consumers typically prefer outright purchases.
