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Definition of Major Stakeholders and Communication Channels

Coway defined stakeholders as internal·external individuals and organizations that influence corporate activities. Coway then classified them into seven groups. Recognizing that communication with each group of stakeholders is an essential element for the successful pursuit of sustainable management, Coway operates a number of communication channels. In order to effectively organize the content of this sustainability report, the company utilized stakeholder feedback collected through Certain communication channels during the reportin period.

Category Definition Major Concerns
Major Concerns Communication Activities
Customer Not merely consumers who purchase Coway’s products and services, but all stakeholders that share Coway’s values. Improving customer satisfaction, distinguished customer services, systematic customer feedback management Handling of customer grievances, thorough customer data protection
  • Website
  • VOC/Call Center
  • New Heart Service
  • Customer-centered management (CCM)
Shareholders & Investors Those who make indirect/ non-financial investments as well as those who make capital investments. Profitability improvement, dividend policies, sound corporate governance, business opportunities & risk management.
  • Frequent IR meetings
  • General meeting of stockholders
  • General meeting of stockholders
  • Management information notification
Government Institutions and organizations that exercise sovereign power on behalf of the countries where the company conducts its business. Compliance and laws & regulations, Public-Private partnerships
  • Government-funded councils
  • Corporate disclosure
  • Public-private partnerships
  • Seminars
Academia & Media Groups that produce and deliver information for communication between Coway and its stakeholders. Transparent disclosure of corporate information
  • Corporate disclosure
  • Press releases
  • Management information notification
  • Press releases
Suppliers Organizations and individuals that provide Coway with raw materials and related services. Support for suppliers’ financing/technology/training; support for suppliers’ environmental/ethics management; improvement of suppliers’ work environment
  • Suppliers’ Council
  • Win-Win Portal Site
  • Technological and monetary support
  • Benefit sharing program
Employees Coway’s core assets that continuously strengthen their ability to achieve both an individual and corporate vision. Fair evaluations and compensation, training and competency development, family-friendly management, current situation of employment, non-regular employees’ work conditions and welfare & benefits
  • Labor-Management Council
  • Grievance handling program
  • HR Committee
  • Beyond Coway
  • Coway Day
Local Communities Not just geographical/ administrative districts, but also the societies in which Coway and its stakeholders live. Communication with local communities, ethics management performance disclosure, various social contribution & volunteer Activities
  • Local councils
  • NGO meetings
  • Well-digging program
  • Hanbyum Love