Coway

Woongjin Group founded the company under the name Woongjin Coway in 1989.

Amid financial concerns, Woongjin Group sold its majority shares in Coway to the private equity fund MBK Partners in 2013, which remained the holding company of Coway until 2018.

Woongjin briefly readquired its shares from MBK in late 2018 for 1.68 trillion won , renaming the company back to Woongjin Coway in the process. However, their shares in Coway were put in auction less than a year later. Initially, companies such as Carlyle Group, Haier Group and SK Networks placed bids, but all eventually withdrew. The bid was later sold to video game developer Netmarble for 1.74 trillion won, despite Woongjin initially attempting to sell its shares for more than 2 trillion. Netmarble remains the largest holding company of Coway to the present day.

Coway Malaysia

Coway Malaysia is a subsidiary company of Coway mainly responsible for distributing Coway products in Malaysia. The subsidiary was founded in May 2006, with an initial investment of 5.8 million Malaysian ringgits. Coway Malaysia is the largest subsidiary of the parent company, making up over 90% of its overseas revenue, amounting to over 140 billion won in 2017.