Woongjin Group announced Monday that it will sell Woongjin Coway, the nation’s biggest water purifier maker, according to news reports.
The news immediately sparked market attention on the reason behind the sale, as the company is a money-making subsidiary for the conglomerate.
Coway’s sales last year took up about 27 percent in the conglomerate’s total output. The company also enjoys a share of more than 50 percent in water purifier market
Some industry watchers said the sale may be aimed at securing funds to invest more in the group’s solar power business. But Yonhap news agency said there is speculation that the group’s financial difficulties are more serious than expected.
(
sophie@heraldcorp.com)
