South Korea Cold Storage Market Assessment, By Warehouse Type [Public, Private, Semi-private], By Temperature [Frozen, Deep-frozen, Chilled], By Application [Food and Beverages, Pharmaceutical, Others], By Region, Opportunities and Forecast, 2018-2032F

South Korea cold storage market is projected to witness a CAGR of 5.04% during the forecast period 2025-2032, growing from USD 3.64 billion in 2024 to USD 5.39 billion in 2032F, owing to rising demand for fresh and frozen foods, expansion of E-commerce, and infrastructure investment. South Korea’s cold storage market is quietly powering some of the country’s most critical industries, from food security to pharmaceutical resilience. As a nation with high urban density, limited agricultural land, and a growing reliance on imported perishables, South Korea has steadily invested in cold chain infrastructure to ensure quality, shelf life, and traceability.

Post-pandemic consumer behavior has also played a role. The rise of frozen ready-to-eat meals, e-commerce grocery deliveries, and biologics in healthcare has reshaped cold storage demand across major cities, including Seoul, Busan, and Incheon. Public and private players alike are racing to integrate smart warehouse systems, real-time temperature control, and automated material handling to meet these changing expectations.

Government support through smart logistics funding, tax incentives, and green warehousing policies is accelerating market maturity. Also, with Korea’s role in high-value pharma exports and food imports growing, the cold storage ecosystem is no longer a back-end utility — it is becoming a strategic asset.

For instance, in August 2024, Lotte Global Logistics announced the launch of a major cold-chain warehouse in Busan, motivated by rising demand from pharmaceuticals and frozen foods. The facility incorporates advanced automation—such as AGVs and multi-temperature zones—indicating Lotte’s deepening commitment to private, tech-enabled infrastructure.

Surge in Demand from Frozen and Chilled Food Categories Driving Cold Storage Market

Changing dietary habits and the rise of single-person households have boosted consumption of frozen foods, chilled meat, and seafood. This shift has directly translated to increased demand for cold storage capacity, particularly in urban hubs and last-mile locations.

In June 2024, Kuehne+Nagel (KWE) announced the opening of its third cold storage warehouse in Pyeongtaek, expanding its capacity to support increased e-grocery and quick-commerce needs in the Seoul metro area. The new terminal is equipped with temperature-controlled, refrigerated, and frozen storage areas, allowing it to manage a wide variety of cargo such as semiconductor manufacturing equipment, oversized items, and various components This reflects how food trends are actively reshaping infrastructure; cold storage is no longer static, it is dynamic and tied closely to consumer cycles.

Rising Pharmaceutical Logistics Needs for Temperature-Sensitive Drugs to Shape the Market

South Korea’s growing pharmaceutical and biotech sector, especially in biologics and clinical trials, is driving a parallel rise in demand for highly compliant cold storage solutions. For instance, in October 2024, CJ Logistics, Korea’s leading cold chain operator, entered an exclusive pharma-focused partnership with Baropharm Co. Ltd., enhancing its capacity to manage regulated pharmaceuticals and supportive services for vaccine and biologic distribution. Under the agreement, the companies will introduce an optimized pharmacy ordering system. CJ Logistics will store Baropharm’s pharmaceuticals and manage third-party logistics on receiving orders. With South Korea’s biotech exports expected to grow, logistics players are doubling down on temperature-controlled pharma infrastructure, especially in proximity to airports and free trade zones.

Dominance of Private Cold Warehousing in Infrastructure Growth

While public and semi-private warehouses remain relevant for commodity imports, it’s private cold storage operators who are driving most new capacity, automation, and value-added integration.

For instance, presently, Dongwon Cold Storage, part of Dongwon Industrial, operates the Busan Cold Center at Gamcheon Port, capable of handling up to 80,000 tons of seafood daily with multi-temperature rooms and port connectivity, highlighting private-sector leadership in cold warehousing. Dongwon Cold Storage is equipped with 61 rooms of various temperatures and sizes, from C&F grade to F and SF grades. They also have large-scale booths that can accommodate up to 35 cargoes.

Private players can move faster, invest in smarter technology, and build custom infrastructure for high-value food and pharma clients, making them the engine of cold chain evolution in Korea.

Key Players Landscape and Outlook

South Korea’s cold storage ecosystem is led by a mix of diversified logistics giants and specialized cold chain players. Companies offer nationwide temperature-controlled warehousing and transportation for food and pharmaceutical clients, while local players dominate seafood logistics through vertical integration. Emerging players are investing in urban cold storage and regional fulfillment hubs.

International firms have entered the Korean market through joint ventures and acquisitions, targeting advanced cold chain systems for biopharma and high-volume retail. Their presence is intensifying tech-led competition, particularly in warehouse automation and energy-efficient designs. The market is consolidating around agility, compliance, and digital integration — cold storage is no longer about space, but about smart service orchestration.

For instance, in October 2024, CJ Logistics Corporation entered an exclusive partnership with Baropharm, a leading South Korean biotech logistics specialist, to create tailored, compliant cold storage and distribution services for pharmaceutical clients. This development highlights CJ’s strategic move into highly regulated, pharmaceutical-grade cold chain, underscoring its expertise in temperature-sensitive logistics.