Coway Third Quarter Revenue Rises 4 Percent to 969.8 Billion Won

Coway said third-quarter 2022 revenue was 969.8 billion won, up 3.8 percent from a year earlier, and operating profit rose 0.8 percent to 165.1 billion won. Year-to-date revenue reached 2,875.9 billion won, up 5.8 percent, with operating profit of 513.7 billion won, up 2.5 percent.

Domestic environmental appliance revenue rose 2.7 percent to 571.3 billion won, helped by the Icon Ice water purifier. Overseas revenue increased 6.5 percent to 354.9 billion won, including 276.5 billion won from Malaysia, up 7.9 percent. Chief financial officer Soon Tae Kim credited digital transformation efforts and innovative product launches, and the company said it plans to focus on research and development for steady growth.