Coway Nominates Jangwon Seo as New co-CEO

SEOUL,South Korea,Jan. 6,2021 -- Coway Co.,Ltd.,a leading environmental home appliances company,today announced the nomination of Jangwon Seo,Coway's current CFO,as a new co-CEO during its annual senior executive reshuffle.

Jangwon Seo,a New Co-CEO of Coway

With the reshuffle,Coway will convert to a co-CEO structure led by two co-CEOs,Hae-Sun Lee and Jangwon Seo,subject to Jangwon Seo's formal appointment as a co-CEO at a board meeting in February.

The co-CEO nominee,Jangwon Seo,was a senior U.S. attorney at Shin & Kim,a major law firm in Korea. Thereafter,Seo served as Chief Investment Officer and Chief Communications Officer at Netmarble Corp. and as the representative of Netmarble Cultural Foundation,and currently serves as CFO at Coway. Seo holds a Bachelor's Degree in economics from Westminster College and a J.D. Degree from the University of Connecticut School of Law. Seo's global experience in the strategic planning field is well recognized at Coway.

"We expect the new co-CEO Jangwon Seo to strengthen the company's core competency in strategic planning and global competitiveness in addition to the stable business management of current CEO Hae-Sun Lee," said an official from Coway. "Coway will push forward to overcome the internal and external challenges under COVID-19,to enhance synergy with Netmarble Corp.,and to lay the foundation for Coway's successful expansion to the global market."

Meanwhile,Coway isexpanding its environmental home appliances business to global marketsincluding the United States,Malaysia,Thailand,Indonesia,and Vietnam.

About Coway Co.,Ltd.

Established in Korea in 1989,Coway is a leading environmental home appliances company making people's lives healthy and comfortable with innovative home appliances such as water purifiers,air purifiers,and bidet. Since our founding,Coway has become a leader in the environmental home appliances industry with intensive research,engineering,development,and customer services. We have proven our dedication to innovation with award-winning products,home health expertise,unrivaled competitiveness in market share,exceeding customer satisfaction,and brand recognition. We keep innovating by diversifying product lines and by accelerating overseas business in Malaysia,the U.S.,and China,based on business success in Korea. For more,please visit http://www.coway.com/