In Korea's senior living market, affluent Gen X is the target demographic for startups making strategic investments.

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In Korea's senior living market, affluent Gen X is the target demographic for startups making strategic investments. - Korea Economic Daily

Quick Summary:

Caredoc is the latest startup in Korea rushing to the privately funded senior housing market set to bloom upon the retirement of the Gen X population.Caring Co.in April also signed a memorandum of understanding (MOU) with SDAMC, a local property developer behind the luxury senior community project in Magok, western Seoul, to develop a new senior living community.

Elder-care startups are rushing to build high-end senior homes in South Korea targeting affluent Generation Xers set to retire in five years on expectations of high demand for luxury senior lifestyle in the rapidly aging country with a constrained supply of senior living infrastructure.

Following the retirement of the affluent Generation X population, demand for diverse senior living facilities meeting different demands is, however, expected to grow rapidly, which will pave the way for expanding the privately funded senior housing market.