Coway and KT Form Strategic Business Partnership

Strengthening Market Competitiveness of Smart Home Services Based on Core Competencies of Both Companies

[Asia Economy Reporter Kim Cheol-hyun] Coway (CEO Lee Hae-seon and Seo Jang-won) announced on the 30th that it has formed a business partnership with KT to cooperate in the smart home market and maximize customer satisfaction by strengthening digital innovation competitiveness.

This agreement was promoted to enhance the competitiveness of smart home services based on the core capabilities and technologies possessed by both companies, improve customers' quality of life, and create sales synergies and expand sales channels through mutual cooperation.

As part of the agreement, Coway and KT plan to pursue various collaborations including ▲advancing home DX (Digital Transformation) and launching new services ▲expanding synergy through combined products of both companies ▲developing specialized businesses for pet households and single-person households ▲global business cooperation ▲creating sales synergies utilizing the infrastructure of both companies.

Through this agreement, Coway will consider integrating and linking KT's artificial intelligence (AI) platform 'Giga Genie' with major product lines such as water purifiers and air purifiers, as well as equipping future products. In addition, based on big data, they will advance customized services for customers and cooperate to ensure interoperability among various devices by utilizing Matter, the smart home interconnection standard.

Seo Jang-won, CEO of Coway, said, "We expect that the smart home services based on future digital technologies that both companies will present through this business agreement will lead a new change in the smart home market," adding, "We will continue to lead the smart home market by providing services that offer new value and innovative experiences in customers' daily lives."