Approaching a Super-Aged Society: Insurance Companies Accelerate into the Elderly Care Industry
As South Korea rapidly approaches a super-aged society, insurance companies are intensifying their efforts to enter the elderly care industry. As South Korea rapidly approaches a super-aged society, insurance companies are intensifying their efforts to enter the elderly care industry. With the percentage of the population aged 65 and older expected to exceed 20% by 2025, life insurance firms are increasingly identifying senior housing and nursing facilities as new growth opportunities. Recent reports indicate that the number of registered residents aged 65 and older in South Korea surpassed 10 million in July 2024, accounting for 19.5% of the total population of over 51 million. If the current trend continues, South Korea will officially transition into a super-aged society next year, just seven years after entering an aged society. As the elderly population grows, there is a rising demand for age-friendly housing and support services, including nursing care. A survey conducted by...