NewG Lab Acquires 100% Stake in Hanwool TL, a Leading Cold Chain Company

[Asia Economy Reporter Yoo Hyun-seok] NewG Lab announced on the 17th that it has signed a contract to acquire 100% of the shares of Hanwool TL, a cold chain solution specialist company.

Hanwool TL is a leading domestic company in the manufacturing of pharmaceutical and bio medicine storage containers and refrigerants. It also holds numerous related patented technologies. In particular, the technology that can maintain temperature for 120 hours without power supply is a core technology necessary for long-distance overseas transportation.

Additionally, Hanwool TL has completed the development of IoT sensors for cold chain transportation and possesses its own transportation management system solution, providing a ‘one-stop solution’ from storage container development to transportation. Recently, it succeeded in enhancing product competitiveness by developing a new transport container that is more than 50% lighter compared to existing containers.

Currently, it provides cold chain services to bio companies such as the US Forces Korea bases, GC Green Cross, Cha Biotech, Geo Young, and Hanlim Pharmaceutical, and is expanding its service targets to clinical companies, hospitals, public institutions, and military units. In January, it signed a business agreement with Gyeongnam Pharmaceutical and others, preparing for the full-scale domestic distribution of COVID-19 vaccines. It is recognized as an indispensable company in COVID vaccine transportation and holds a favorable position in vaccine logistics.

Hanwool TL is targeting both the bio cold chain market and the fresh food logistics market simultaneously. As the need for refrigerated storage and low-temperature transportation in pharmaceutical logistics such as vaccines and specimens has increased recently, the cold chain-related market is rapidly growing, and the fresh food logistics market is also expanding significantly due to the growth of the online market.

With this acquisition of Hanwool TL, NewG Lab is making a full-scale entry into the cold chain business and aims to complete the bio business value chain from the development of various new drugs such as anticancer agents to pharmaceutical transportation. NewG Lab is restructuring its business structure to focus on the bio business after completing the restructuring of its existing CCTV business.

A NewG Lab official said, “Hanwool TL is a promising small and medium-sized enterprise with cold chain-related technology and growth potential. In the future, it will be responsible for the distribution and storage of NewG Lab’s anticancer agents and raw pharmaceuticals, creating synergy with the new drug development business and becoming a new growth engine for the company.”

He added, “With the recent rapid growth of online shopping malls such as Coupang and Market Kurly, the movement to legally mandate cold chain in the fresh food delivery market is spreading, and Hanwool TL is expanding its business area to the fresh food logistics market. Following existing clients such as Starbucks and NongHyup, it is targeting various distribution channels including online shopping malls like Coupang and Market Kurly, as well as large convenience store chains.”

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