Kotlin Coroutines provide a new way to write asynchronous and concurrent code using suspending functions and structured concurrency. Coroutines avoid callbacks and allow sequencing of asynchronous code using async/await. Coroutines are lightweight threads that can be suspended and resumed. Channels allow coroutines to communicate and share data. Flows provide a reactive streams API for coroutines. Kotlin coroutines offer improvements over other asynchronous programming models like callbacks and RxJava.