I would like to express my sincere gratitude for your support over the years and wish good health and happiness for you and your family. The seed of our innovation began to sprout when we decided to provide our water purifier rental service at a low cost. Now, we are seeing the benefits our purifiers are bringing to people around the world.
Since our incorporation in 1989, we have been dedicated to improving the purity of the air and water we all consume. Rather than relying on conventional business models, we created a new market and expanded our business through innovation. As a market leader, we have led changes and technological innovation and set a new standard by hiring service specialists known as “Codys.” We recognize the true value of clean air and water, which is the foundation of our business. “Coway Trust” is our first and utmost top priority in all our business processes from product development and design to quality and service.
“Coway Trust Re:BLUETION” is our commitment for 2018 to making the world a better place to live. Trust is the value we continue to build and pursue while “Re” in “Re:BLUETION” represents the challenge we face. “Blue” in “BLUETION” is the color that symbolizes clean air and water. This year, we celebrate two decades of doing what we do best, which is our rental and Cody service. By focusing and further improving the core of our business, we will continue to lead innovation and change the world.
At Coway, we are reinforcing our core competencies and improving the quality of our products to solidify the trust our customers place in us. With such technological innovations as CIROO, the standalone filtration system that can filter ultrafine particles, and Air Dynamics, which creates pure flow of air, we are introducing innovative products that will revolutionize the industry and further increase our corporate value as a life care company. It is our job to help people lead healthy lives by providing clean air and water. With this belief, we will lead innovation to improve the quality of people’s lives. Looking toward the future, we are going to take advantage of the 4th Industrial Revolution by incorporating ABC—AI, Big Data, and Cloud technology —into our business. For example, AI can tell us the quality of air. It c an also collect indoor air quality data through machine learning and tell us the best way to ventilate air. These new technologies can be also used by Codys in the field. Such technological innovation will benefit both customers and Codys and increase the value of what they do.
When the paradigm shifts, we have to change the way we work. The key aspects of the 4th Industrial Revolution are openness and connectivity. Just like we’ve done in our collaboration with Amazon, we are going to enhance the platform for open connection. Our business model deals with life essentials, such as the air, water and sleep, so our vision for the future must be solid. As more global companies recognize our value, there will be more opportunities for partnership to realize for open innovation. Such connection will change people’s lives not only in Korea but also around the world. With products that can meet the varying needs of people, we will share the true value of healthy lifestyle. In addition to our existing product lineup, including water and air purifiers, bidets, mattress and cosmetic products, we will continue to introduce new and innovative products such as FWSS (Fresh Wear Styling System) that will provide new user experiences and innovate lifestyle. We will set no limit to our approach and vision for the market and customer experience.
Our commitment to the world and its sustainability will be also reflected in our social responsibility programs as we share clean air and water with our neighbors. In 2016, we founded the startup school for youths, Wi School, based on our core competencies to provide support for lone entrepreneurs to start their own businesses. Coway too was founded as a one-man startup, and we believe it is our responsibility to help others realize their dreams while creating new shared values through core competencies. We appreciate your continuous interest and support in our efforts to make the world a better place to leave.
Our history shows that the quality of people’s lives has improved as our business grew. We are now able to drink clean water and breathe clean indoor air 24 hours a day. Our bidets and mattress care service make our lives even better and healthier. These changes are now a regular part of daily life. We are excited about the way we are changing the world and creating value for our customers. With this mission in mind, we will continue to bring customers new and better experiences and help improve the quality of people’s lives.