Coway unveils plan to reach many more Malaysian customers by 2017

Management, Cody managers and cody at Coway’s Malaysia unit take a group photo after the top water purifier rental service unveiled its future growth vision. [COWAY]

Coway unveiled its future growth vision on Monday as it celebrated the 10th anniversary of its operations in Malaysia.

Under the new plan, the leading home appliance rental service provider set a goal for itself to gather over 600,000 customers -- private and corporate -- by 2017. Customers who rent water purifiers there surpassed 30,000 in the first quarter. Coway is currently Malaysia's No.1 water purifier rental service.

To meet the 2017 target, the company will increase it number of maintenance workers(Cody and Service Technicians) and salespeople in Malaysia, who now total 1,500 and 3,500.

"We have been continuing to grow in Malaysia on the back of our understanding of the society and marketing strategies optimized specifically for the market," said Kim Yong-sung, director of Coway, who vowed to step up corporate social activities to help not only the company but also the local society develop further.

Ever since it was established in 2006, Coway's Malaysia unit has posted an annualized average growth rate of 118 percent over the past decade. Its revenue last year was 336 million ringgits ($82.5 million), or 97.8 billion won, up from 260 million ringgits a year earlier.

In 2011, Coway earned halal certification in Malaysia, the first among all water purifier rental services in the nation to do so. The move prompted Muslim customers to use Coway even more.

BY SEO JI-EUN [seo.jieun@joongang.co.kr]