South Korean senior care industry expansion

The senior care sector in South Korea is seeing significant expansion through both specialized startups and major corporate partnerships.

Caring, a senior care company, is standardizing elderly services by directly managing approximately 69 nursing centers nationwide. The company is implementing internal standards that exceed government requirements and has diversified into home-based care, welfare equipment commerce, and AI-driven care technologies. Following a 40 billion KRW Series C investment, the company is also moving into facility-based care through ‘Caring Stay’ silver towns and ‘Caring Village’ urban nursing homes.

Simultaneously, Samsung C&T Construction Division has entered a memorandum of understanding with Samsung Noble Life to develop senior residences and nursing homes. This partnership aims to integrate specialized life care services into multi-family housing to support the ‘aging in place’ trend. The collaboration involves the use of ‘Everring’, an AI-based senior living solution, and research into age-tech services such as AI behavior analysis and home AI companion robots.