Coway Releases Its New Sustainability Report for FY2023 | The Manila Times

SEOUL, South Korea, Aug. 23, 2024 /PRNewswire/ -- Coway Co., Ltd., the "Best Life Solution Company," has released the new edition of the Coway Sustainability Report for FY 2023. The report provides a comprehensive update on the company's progress toward achieving its Environmental, Social, and Governance (ESG) goals, offering a transparent look at the strategies and activities taken to address ESG-related concerns.

Coway Sustainability Report 2023

"We transformed challenges into opportunities through continuous innovation and unique management strategies, resulting in exceptional business performance in 2023, despite ongoing global economic uncertainty," said Coway's CEO, Jangwon Seo. "We'll continue our journey toward sustainability by further enhancing our ESG framework in areas like product development, lifecycle management, resource usage, carbon emissions, and social value."

The New Coway Sustainability Report 2023* highlights the key achievements for 2023 in each ESG sector.

In the Environment sector, Coway's waste mattress recovery and recycling system was recognized by the Ministry of Environment as an exemplary case of resource circulation in South Korea. Coway has established a Scope 3 inventory to measure the amount of greenhouse gases generated throughout the corporation and disclose that information at the supply chain level.

In the Social sector, the company has demonstrated its commitment to diversity and inclusion by creating the 'Coway MulbitSori Choir' for the Visually Impaired, contributing to the promotion of employment opportunities for individuals with disabilities. Coway also organized several biodiversity conservation events within the local community to foster an awareness of the environment and the importance of protecting it.

In the Governance sector, Coway established a system for the Independent Director Candidate Recommendation Committee, creating clear guidelines for appointing Independent Directors to ensure their integrity.

The Coway ESG Committee was formed in 2021 to 'strengthen ESG management' by leveraging the expertise and independent views of a Board of Directors. The committee stays up to date on the latest ESG trends in each area, identifies risks and opportunities, and develops strategies to address them. As a result, Coway consistently and transparently shares its ESG management activities with shareholders, investors, and other stakeholders.

The New Coway Sustainability Report 2023 marks its 19^th edition. Its inaugural publication was in 2006, and it has had its own dedicated website since 2015.

The full text of the New Coway Sustainability Report 2023 is available here.

*The New Coway Sustainability Report 2023 presents results of FY2023, unlike the original Coway Sustainability Report 2023 which covers FY2022.

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.