Coway Steps Up R&D, to Build Large-Scale Center in Gwacheon by 2032

Establishing a stable research base
Consolidating dispersed R&D functions
Strengthening R&D capabilities and securing future technological competitiveness

Coway has formalized its plan to build a large-scale research and development (R&D) center in Gwacheon. The move is aimed at consolidating its dispersed R&D functions and strengthening its technological competitiveness in new growth areas such as healthcare.

On November 11, Coway said it is pursuing the construction of a new R&D center in Makgye-dong, Gwacheon, by 2032 to support sustained business growth and strengthen its technological competitiveness. The board of directors also approved a decision on November 5 to acquire the site and related assets for KRW 365.1 billion.

Coway R&D Center

The primary reason Coway is building a new R&D center is that its existing research space has reached capacity. Coway has operated an R&D center at Seoul National University Research Park since 2008. Although it is the largest comprehensive research institute for environmental home appliances in South Korea, the company says it needs to expand its research facilities as sustained growth has increased its research workforce and created a shortage of space. In addition, the center was built under a donation-to-public-ownership arrangement, and its lease period has expired. Coway said, "The new R&D center will provide a stable research base and consolidate our dispersed R&D functions to secure future technological competitiveness."

The new center is also considered significant because the existing R&D center has served as a key research hub for developing innovative products and technologies and has driven Coway's growth. The R&D center conducts preliminary research and develops new products ranging from environmental home appliances such as water purifiers, air purifiers and bidets to BEREX beds and massage chairs. With a research workforce of more than 400, it has a one-stop research infrastructure that covers the entire R&D process, including reliability testing and performance verification required for certification. As of the end of June 2026, Coway held 2,449 domestic and international patents, more than twice its total at the end of 2020.

Industry observers expect the new R&D center to also serve as a hub for expanding Coway's healthcare business, which the company is pursuing as a new growth driver. A convergence cluster encompassing healthcare, biotechnology and advanced industries, centered on a general hospital, is being planned for the special planning zone in Makgye-dong, within the Gwacheon District, which includes the site Coway acquired in Gwacheon. Coway is participating as one of the strategic investors in the consortium led by Ajou University Hospital developing the project.

This year, Coway launched its home medical device brand "Terasol" and diversified its rental product lineup with successive releases including a medical device for treating urinary incontinence and a personal low-frequency stimulator. It recently also officially launched a "walking-assistance wearable robot" for seniors and others with mobility impairments. Coway expects its R&D center to benefit from synergies in developing these healthcare products with the general hospital and pharmaceutical and biotechnology companies in the cluster where the center will be located. A Coway representative said, "Coway has worked to develop innovative products and technologies through continued R&D investment. We will continue to strengthen our R&D capabilities and lead the global home appliance market."

This content was produced with the assistance of AI translation services.