Economic

Organizational Scope

Financial Data
Summary of Consolidated Financial Statements(based on K-IFRS) (Unit : KRW Won)
Category 2014 2015 2016
Non-current assets 1,024,838,930,313 1,122,079,124,795 1,234,573,817,352
Current assets 596,810,515,755 653,318,017,710 733,134,075,994
Total Assets 1,621,649,446,068 1,775,397,142,505 1,967,707,893,346
Share capital 40,662,398,000 40,662,398,000 40,662,398,000
Share premium 97,773,449,148 97,773,449,148 97,773,449,148
Retained earnings 985,875,249,525 1,177,049,753,285 1,179,735,672,647
Other equity items -85,768,352,752 -78,122,382,059 -135,356,489,548
Non-controlling interest 892,285,334 864,612,421 528,728,310
Total shareholders' equity 1,039,435,029,255 1,238,227,830,795 1,183,343,758,557
Non-current liabilities 56,173,184,972 64,287,230,555 48,973,368,952
Current liabilities 526,041,231,841 472,882,081,155 735,390,765,837
Total liability 582,214,416,813 537,169,311,710 784,364,134,789

Summary of Income Statement(based on K-IFRS) (Unit : KRW Won)
Category 2014 2015 2016
Sales 2,160,315,530,683 2,315,242,282,662 2,376,328,167,259
Cost of sales 726,567,159,312 728,843,092,565 812,176,526,166
Gross income 1,433,748,371,371 1,586,399,190,097 1,564,151,641,093
Selling and administrative expenses 1,069,319,801,501 1,123,060,003,421 1,225,354,188,064
Operating income 364,428,569,870 463,339,186,676 338,797,453,029
Other gains 17,610,070,502 24,447,251,232 28,737,581,966
Other expenses 40,697,496,626 30,407,140,043 38,890,265,528
Finance income 2,703,459,518 1,423,176,277 1,212,324,916
Finance costs 11,598,016,713 4,339,055,128 6,103,169,863
Net income before income tax 332,446,586,551 454,463,419,014 323,753,924,520
Income tax 82,778,174,443 111,343,034,229 80,442,692,413
Net income 249,668,412,108 343,120,384,785 243,311,232,107
Other comprehensive income -8,567,485,642 -8,832,592,426 -804,069,601
Total comprehensive income for the year 241,100,926,466 334,287,792,359 242,507,162,506

Comparison of New Employees’ Remuneration and the Legal Minimum
Category 2014 2015 2016
New Employee Monthly Wages Compared to the Legal Minimum Legal Minimum Wage(monthly, KRW 10,000) 108.8 116.6 126.0
New Employee Wages(monthly, KRW 10,000) 307.5 316.7 316.7
Rate(%) 282 272 251

Research and Development Status
Category Unit 2014 2015 2016
R&D Expense KRW million 31,775 34,029 36,520
R&D Cost Proportion
(vs Sales)
1.47% 1.47% 1.54%
Features of Resource Procurement

Coway has been successful in producing most of the parts it requires in Korea through constant R&D efforts by the company’s Environmental Technology Institute and Quality Management Institute, or by purchasing them from numerous suppliers within Korea. Today, the company is also equipped with automatic production lines for filters. Furthermore, core parts used for water purifiers are ultra-precision filters, so competitors have had to work hard to increase the number of more technologically advanced products they produce in Korea to keep up with Coway.

Coway’s Supply Chain

Coway engages in trade with a total of 273 suppliers in order to procure raw materials and parts for manufacturing products. In 2016, Coway purchased approximately KRW 50.90 billion worth of parts and materials for production.

Category 2014 2015 2016
No. of Suppliers Total 224 288 273
Tier 1 suppliers 151 193 178
Tier 2 suppliers 73 95 95

Intellectual properties (2016)
Total Patents Utility models Brands
(Including overseas)
Designs
(Including overseas)
3,940 718 182 2,244 796

Economic Performance Creation and Distribution (2016)
Total (KRW ten million) Government Shareholder Employees Communities Suppliers
98,952 Income taxes Dividends Wages, bonuses, employee benefits, etc. Social contribution expenses Purchase cost of raw materials
8,044 20,803 33,168 63 36,874