– Industry representatives participate in senior housing discussion hosted by Rep. Eom Tae-young… Consecutive participation in ruling and opposition party policy discussion meetings to suggest policy innovation
– CEO Park Jae-byeong and key executives in the senior housing sector are expected to attend and highlight market conditions and public-private cooperation models.
– Attendance by former National Senior Citizen Housing Welfare Facility Association Chairman Park Dong-hyun, Seoul City University Natural Science Research Institute Researcher Jeon Hyeon-woo, Korea Housing Association President Park Gwang-jae, Ministry of Land, Infrastructure and Transport Housing Welfare Policy Division Director Heo Gyeong-min, LH Land and Housing Research Institute Director Lee Mi-hong, Konkuk University Adjunct Professor Choi Hee-jung, and Monthly Long-term Care Publisher Kim Ho-jung
Senior total care company Caredoc (CEO Jae-Byung Park) will attend the ‘Retirement City is Coming! Senior Housing Innovation Strategy Discussion for Preparing for a Super-Aging Society’ held at the National Assembly Members’ Hall 1st Small Conference Room at 2 PM on the 10th as a representative of the senior housing industry and discuss public-private cooperation measures for innovation in the senior housing industry.
This discussion is co-hosted by Rep. Eom Tae-young of the People Power Party and the Korea Senior Housing Development Association's preparatory committee. Rep. Eom Tae-young is a member of the 'National Assembly Retirement City Research Forum', a joint research group of ruling and opposition party members of the National Assembly, and is leading the way in introducing and activating senior housing facilities for a stable old age. The Korea Senior Housing Development Association is also a senior housing policy cooperation organization that brings together the government, major senior housing companies, and institutions, and is scheduled to be officially launched this year.
The discussion will last for two hours, with over 100 government officials and key figures from organizations, including many members of the National Assembly, in attendance. In particular, it will focus on establishing the concept of a 'Korean-style retirement village' and providing practical alternatives for public-private cooperation in the field of senior housing facilities, and the purpose is to explore the current status of related policies and review innovative alternatives.
Caredoc will attend this event as a representative of a senior housing company. Following last year’s participation in a discussion on senior facilities as a representative of a senior care company, the plan is to present the outlook for the domestic senior housing market and the importance of a public-private partnership model at an official event once again. Accordingly, Caredoc’s key executives in the senior housing sector, including CEO Park Jae-byeong, Care Operation Vice President Lee Seon-yeop, and Senior Housing Research Institute Director Kang Hyo-jin, will attend and share their perspectives on the industry.
In addition, experts from various fields will attend the discussion to share various opinions on the domestic senior housing market. First, former Chairman of the National Association of Senior Housing Welfare Facilities Park Dong-hyun is scheduled to present on topics such as ‘Problems and Improvement Measures of Senior Housing Facilities Policy’ and Jeon Hyeon-woo, a researcher at the Natural Science Research Institute of Seoul City University, ‘Essential Conditions for Sustainable Aging: Cities and Communities’. The policy discussion that follows will include Chairman Park Dong-hyun, who is the moderator, as well as Caredoc CEO Park Jae-byeong, Korean Housing Association President Park Gwang-jae, Ministry of Land, Infrastructure and Transport Housing Welfare Policy Division Director Heo Gyeong-min, LH Land and Housing Research Institute Director Lee Mi-hong, Konkuk University Real Estate Graduate School Adjunct Professor Choi Hee-jung, and Monthly Long-term Care Publisher Kim Ho-jung, who are expected to hold multifaceted discussions on innovation in the senior housing market.
Recently, the demand for senior facilities with professional care capabilities has been rapidly increasing in Korea, but policies and infrastructure related to the elderly housing environment still fall short. In particular, as of December 23 last year, the proportion of the elderly population aged 65 or older exceeded 20%, entering a super-aging society, and the need for related system improvement is expected to grow even more in the future. As the government is also actively moving to ease related regulations and prepare countermeasures, related discussions are expected to become more active.
Caredoc CEO Park Jae-byung participated as an industry representative in the National Assembly Policy Debate on Senior Facilities hosted by Rep. Jeon Yong-gi of the Democratic Party of Korea in December last year, and has been at the forefront of institutional improvement for market development, such as suggesting the need for regulatory innovation. In this debate, he plans to further strengthen policy collaboration based on cooperation encompassing the ruling and opposition parties and the government, such as suggesting measures for sustainable growth of the senior housing industry.
Caredoc plans to accelerate the development of innovative senior housing solutions that fit the domestic situation and strengthen diverse activities for regulatory improvement and market activation. In addition, based on the concept of a ‘Korean-style retirement village’, it plans to actively establish a community-type senior housing model that goes beyond simple nursing facilities and includes various facilities such as exercise and community facilities, and to present comprehensive countermeasures to solve the housing problems of a super-aging society.
Rep. Eom Tae-young said, “We planned this discussion to find innovative solutions for Korean-style retirement villages, which are a key task for ensuring a stable retirement life for the people,” adding, “We will continue to actively cooperate with the government, the National Assembly, and private companies such as Caredoc to establish a solid policy foundation that will lead innovation in senior housing.”
Caredoc CEO Jae-Byung Park said, “In order to stably supply quality senior housing facilities to meet the rapidly increasing demand, various investments and cooperations are being made in the industry,” and “If public-private collaboration continues based on government policy support and private sector innovation, the qualitative improvement of senior housing environments and the creation of a sustainable ecosystem will be further accelerated.”
Meanwhile, Caredoc, as a leading player in the senior housing market, is making various efforts to advance the market and expand its base. In particular, the high-end residential nursing facility brand 'Caredoc Care Home' launched in 2023 has currently expanded to 4 locations and is receiving great responses, recording an average occupancy rate of 90%. In August of last year, it attracted investment from global asset management company Invesco and jointly established 'Care Operation', the first senior housing operator in Korea. In addition, it is leading the way in qualitative improvement of the market by developing and announcing the Senior Town Standard Grade Guide and Senior Housing Design Guideline System.
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