Coway is successively hiring personnel for major home appliances such as refrigerators and washing machines. As rental businesses are growing rapidly in Southeast Asian countries including Malaysia and Thailand, the company is expanding its business scope beyond its core products, water purifiers and air purifiers, into major home appliances.
According to industry sources on the 20th, Coway will recruit experienced professionals for major home appliance product design until the 22nd. The positions are open to candidates with experience in designing wall-mounted and stand-type air conditioners and refrigerators, who will be responsible for domestic and international product design development and Yangsan-stage design quality control.
Previously, Coway recruited experienced professionals for major home appliance product planning until the 16th, and early this month also hired major home appliance mechanism development PMs and electrical system development professionals to handle refrigerators, washing machines, air conditioners, and dishwashers. The company is sequentially securing personnel needed for all stages of development, from product planning and design to product engineering, Yangsan, and quality control.
Coway explains that this recruitment related to major home appliances targets overseas markets more than the domestic market. A Coway representative stated, "Unlike in Korea, various major home appliances such as washing machines and refrigerators are already available overseas," adding, "We are hiring relevant personnel to further expand our product lineup in overseas markets."
Malaysia is where Coway's business is most advanced in the global market. Coway established a local subsidiary there in 2006, marking its 20th anniversary of entering Malaysia this year. Malaysia remains Coway's largest overseas market, where the company has recently expanded its product range to include air conditioners and washer-dryers alongside existing products such as water purifiers, air purifiers, bidets, and mattresses.
Results are also emerging in newly launched products. Washer-dryers and wall-mounted air conditioners each ranked first in local sales in the first quarter. In July, Coway launched its first refrigerator product in Malaysia, expanding into the kitchen appliance segment. Chief Financial Officer Kim Soon-tae said during the second-quarter earnings announcement that "in Malaysia, strong performance in environmental appliances is complemented by growth in home care and household appliances."
Thailand, which entered the market in 2003, has also established itself as a Southeast Asian hub alongside Malaysia. In addition to water purifiers and air purifiers, the company sells air conditioners and washer-dryers through rental services. Thailand's subsidiary recorded sales of 66 billion won in the second quarter this year, up 53.9% from the same period last year, posting the highest growth rate among major overseas subsidiaries.
The reason Coway is launching its major home appliance business overseas before doing so domestically is due to market growth trends. While domestic sales increased by 7.7% in the second quarter compared to the same period last year, overseas subsidiary sales rose by 24.2%. Based on the first half of the year, overseas subsidiary sales reached 1.1245 trillion won, surpassing 1 trillion won for the first time on a semi-annual basis and accounting for more than 40% of total sales.
Overseas accounts are also growing sharply. As of the end of last year, overseas accounts totaled 4.23 million, up 12.5% from the previous year. With growth momentum in other overseas markets such as the United States and Indonesia, the company's scale continues to expand daily.
Another advantage is the ability to actively utilize Coway's existing sales network in Southeast Asia. Unlike general appliance sales, rental businesses require local sales organizations, on-site management personnel, and payment and customer management systems. By adding new products to the business network established through water purifiers, Coway can reduce the burden required to establish new products in the market.
in LIVING
