ITECHND and Dongwoo Tech Sign Business Agreement... "Accelerating Cold Chain Business"

[Asia Economy Reporter Hyunseok Yoo] ITEC's subsidiary ITECH&D announced on the 28th that it has signed a comprehensive mutual business agreement related to cold chain technology with Dongwoo Tech. ITECH&D will cooperate in strengthening domestic and international marketing of Dongwoo Tech's cold chain technology and in developing new products.

Dongwoo Tech's developed product, the 'Cold Chain Keeper,' is the only product in Korea capable of detecting temperatures as low as minus 200 degrees Celsius. It enables real-time monitoring of location, humidity, vibration, and illumination in PC and mobile environments, and when environmental sensors are applied, it can continuously monitor CO2 and spoilage.

The COVID-19 vaccine from the US company Pfizer must be maintained at minus 70 degrees Celsius during distribution and storage. This product is a market-verified technology expected to benefit from market expansion. Since completing product development in 2017, Dongwoo Tech has supplied products to numerous companies and bio-logistics specialists, including Seoul Medical Science Institute, a domestic clinical testing institution, as well as Green Cross, Kolon Pharmaceutical, and SCL.

An ITEC official stated, "Dongwoo Tech is a company gaining attention in the domestic cold chain market due to the outstanding technology of researchers from ETRI," adding, "Through ITEC's direct investment, we will establish a full-fledged cooperation system for product manufacturing and new product development."

The official explained, "We have secured a cold chain infrastructure that integrates Songjeong Pharmaceutical, which has a nationwide distribution network of over 700 locations, and Dongwoo Tech's cold chain monitoring system, Cold Chain Keeper," and added, "Through expansion of new channels and distribution networks, we plan to jointly pioneer domestic and international markets, playing a key role in the domestic cold chain distribution network."

An ITEC official said, "The government aims to start COVID-19 vaccinations in the first quarter of next year," and added, "We will complete the acquisition of Songjeong Pharmaceutical as scheduled early next year and strive to strengthen competitiveness across the cold chain business through collaboration with Dongwoo Tech to enable proactive market response."

This content was produced with the assistance of AI translation services.