Coway stock in focus as overseas sales reach KRW 1.12 trillion

Coway is expanding its international rental and home-appliance business after recording KRW 1.1245 trillion in overseas sales in the first half of 2026. The Asia Business Daily reported that the company is targeting KRW 2 trillion in overseas sales for the full year.

Malaysia leads the overseas push

Malaysia remains Coway's most important international market. The company entered the country in 2007 and has built a leading position in water purifiers while broadening its range into washer-dryers and refrigerators.

Overseas subsidiaries had 4.51 million accounts at the end of the first half, an increase from the end of 2025. The United States and Thailand were the next-largest contributors to overseas sales, although Malaysia continued to account for the clear majority.

Thailand brings opportunity and risk

Coway entered Thailand in 2021 and has recorded average sales growth of about 30 percent over the past three years, according to the report. The company is adding air conditioners, massage chairs and washer-dryers to its established purifier offering as it seeks to repeat its Malaysian expansion model.

The Thai subsidiary remained loss-making in the first half, even as sales increased year over year. That combination gives investors a clear measure for the next phase: whether wider product coverage and stronger local demand can translate into sustainable profitability.

Business model and competition

Coway makes water purifiers, air purifiers and other home appliances, and sells them through rental, maintenance and direct-purchase models. Its portfolio also includes kitchen products and the BEREX sleep and wellness business, with operations centered in South Korea and expanding across Asia and North America. Coway's company information lists water softeners, bidets, kitchen appliances and wellness products among its offerings. In the rental market, Cuckoo is a directly comparable regional rival, while Coway currently has the stronger position in Malaysia described in the report.

South Korean equities remain covered in the KOSPI market reports.

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