In this paper, we present a new multifrequency study of the giant star-forming complex RCW 122. We used molecular data obtained with the ASTE 10 m and the APEX 12 m telescopes, along with infrared observations spanning from 3.6 µm to 870 µm, obtained from available databases. We also incorporated a range of public datasets, including the radio continuum at 3 GHz, narrowband Ha images, and deep JHK photometry. Our analysis focuses mostly on cataloged ATLASGAL sources, showcasing a spectrum of evolutionary stages from infrared dark cloud (IRDC)/high-mass protostellar object (HMPO) to ultra-compact HII region (UCHII), as inferred from preliminary inspections of the public dataset. Based on ASTE HCO+(4−3) and CO(3−2) data, we identified five molecular clumps, designated A, B, C, D, and E, as molecular counterparts of the ATLASGAL sources. These clumps have radial velocities ranging from ~−15 km s−1 to −10 km s−1, confirming their association with RCW 122. In addition, we report the detection of 20 transitions from 11 distinct molecules in the APEX spectra in the frequency ranges from 258.38 GHz to 262.38 GHz, 228.538 GHz to 232.538 GHz, and 218.3 GHz to 222.3 GHz, unveiling a diverse chemical complexity among the clumps. Utilizing CO(2−1) and C18O(2−1) data taken from the observations with the APEX telescope, we estimated the total LTE molecular mass, ranging from 200 M⊙ (clump A) to 4400 M⊙ (clump B). Our mid- to far-infrared (MIR-FIR) flux density analysis yielded minimum dust temperatures of 23.7 K (clump A) to maximum temperatures of 33.9 K (clump B), indicating varying degrees of internal heating among the clumps. The bolometric luminosities span 1.7×103 L⊙ (clump A) to 2.4×105 L⊙ (clump B), while the total (dust+gas) mass ranges from 350 M⊙ (clump A) to 3800 M⊙ (clump B). Our analysis of the molecular line richness, L/M ratios, and CH3CCH and dust temperatures reveals an evolutionary sequence of A/E→C→D/B, consistent with preliminary inferences of the ATLASGAL sources. In this context, clumps A and E exhibit early stages of collapse, with clump A likely in an early HMPO phase, which is supported by identifying a candidate molecular outflow. Clump E appears to be in an intermediate stage between IRDC and HMPO. Clumps D and B show evidence of being in the UCHII phase, with clump B likely more advanced. Clump C likely represents an intermediate stage between HMPO and HMC. Our findings suggest clump B is undergoing ionization and heating by multiple stellar and protostellar members of the stellar cluster DBS 119. Meanwhile, other cluster members may be responsible for ionizing other regions of RCW 122 that have evolved into fully developed HII regions, beyond the molecular dissociation stage.