Let’s buy bread at the bakery over there.
Ichika might have come from the other side of the world.
I’ll tell you my secret if you go stand on the opposite side of the road.
You know that 向 means yonder. So, think of a "yonder こういち." All you know is that he's over there on the other side / opposite side of where you are. Basically, he's just pretty far away, wherever he is.
Since this word consists of a kanji with hiragana attached, you can bet that it will use the kun'yomi reading. You didn't learn that reading with this kanji, so here's a mnemonic to help you:
Standing with こういち is a cow. It is saying moo (む). Weird, now こういち is saying it too. Also, if you know the reading of 向く you should be able to read this one as well.