Weltem
South Korean manufacturer of industrial and commercial HVAC (heating, ventilation, air conditioning, and refrigeration) equipment including portable air conditioners, dehumidifiers, heaters, oil coolers, and enclosure air conditioners.
- CEO / Founder
- Park Jung-woo (박정우)
- Team Size
- 51-200
- Stage
- Active
- Latest Round
- Bootstrapped
Technology & Products
Key Products
Portable air conditioners (Icen brand); Industrial dehumidifiers; Far-infrared oil heaters; Electric heaters/air heaters; Air purifiers; Portable dust collectors; Enclosure/panel air conditioners; Oil coolers (standard, tank, dip type); Chillers; Heat pumps
Technological Advantage
Proprietary HOT GAS BYPASS precision temperature control (±0.1°C); R-410A eco-friendly refrigerant; digital self-diagnosis system; low noise condenser-less design; over 35 years of accumulated HVAC R&D
Differentiation
Value Proposition
35+ years of Korean HVAC/R expertise with mobile/portable cooling and heating solutions for spaces where traditional fixed HVAC cannot be installed
How They Differentiate
Vertical integration with low overseas component dependency (~10%); proprietary HOT GAS BYPASS technology enabling ±0.1°C precision temperature control; subsidiary NGP for solar/renewable energy synergy; 35-year track record in Korean industrial HVAC
Market & Competition
Target Customers
Industrial facilities, factories, warehouses, construction sites, outdoor venues, data centers, control panel rooms, agricultural facilities, commercial spaces, military/government
Industry Verticals
Manufacturing; Logistics/Warehousing; Agriculture (greenhouses); Construction; Data Centers; Marine; Military/Defense; Sports/Events
Competitors
Delta (台达) industrial cooling solutions; Syscooling industrial enclosure AC; local Korean HVAC manufacturers in Incheon area; international portable AC brands (OEM/private label)
Growth & Milestones
Growth Metrics
2023 revenue: KRW 45B (~$34M), 31% growth YoY; 2020 revenue: KRW 35.1B (~$31M), 150% growth YoY; 73 countries exporting to 296 buyers; ~203 employees (2025 data)
Major Milestones
1989: Founded as Hanil Control; 1993: Entered cooling equipment business; 1994: Began manufacturing panel AC and air coolers; 2004: Developed first portable air conditioner; 2007: Renamed to Weltem Co., Ltd.; 2008: First export to USA; 2018: $5M export tower award; 2020: KRW 35.1B revenue (150% YoY growth); 2021: $10M export tower award; 2024: Changwon City Best CEO Award; 2025: KRW 234B investment MOU with Changwon City for factory expansion
Notable Customers
Korean baseball stadium dugouts; COVID-19 screening clinics in Gyeongsangnam-do; Korean government/military facilities; industrial factories nationwide