Polyisocyanurate foam (PIF) has been adopted as a liquefied natural gas (LNG) insulating material owing to its various mechanical merits such as high structural stability and mechanical strength, and excellent insulating ability. In an attempt to increase the mechanical strength of PIF, chopped-glass-fiber-reinforced polyisocyanurate foam (CGR-PIF) was synthesized by adding chopped glass fibers to polyol and isocyanate, which are the raw materials used in the polymerization process for producing PIF. The main objective is to closely observe the compression material characteristics of PIF and CGR-PIF in terms of the cryogenic temperature. Therefore, compressive tests were conducted at cryogenic temperature including low temperatures, and microscopic images were obtained to analyze the cell size and distribution that affects the mechanical and thermal properties of the foam. Furthermore, recovery ratio and weight loss which are important factors of brittle fracture were evaluated, and the applicability of the foams to a cryogenic environment was evaluated. Finally, thermal conductivity, an important parameter of insulation, was evaluated. The obtained results confirm that the compressive strength of CGR-PIF significantly increases at cryogenic temperatures; moreover, a relatively higher thermal conductivity was observed in the case of CGR-PIF as compared to that of PIF owing to the chopped glass fibers.