On June 15, Shinhan Life Care signed a memorandum of understanding (MOU) with Daewoo Engineering at the latter's headquarters in Jung-gu, Seoul, to collaborate on senior housing initiatives.
This partnership is seen as a response to the rapidly increasing demand for senior housing as South Korea approaches a super-aged society.
The two companies plan to establish a cooperative framework for developing senior housing business models and to enhance the exchange of related technologies and information. They will also explore joint investments and development opportunities in public projects related to senior housing, broadening the scope of their collaboration.
Shinhan Life Care is strengthening its capabilities in senior services focused on facility care and operations, while Daewoo Engineering brings expertise in housing development and construction. Together, they aim to create business models that address the diverse housing needs of senior clients.
A representative from Shinhan Life Care stated, "The senior housing sector requires a combination of residential, service, and operational capabilities, and interest is rapidly growing as we enter a super-aged society. We hope this agreement will connect our expertise and open new possibilities."
Meanwhile, Shinhan Life Care plans to develop a silver town that encompasses daily services across finance, healthcare, culture, arts, and leisure sports through collaboration among its group companies.
* This article has been translated by AI.
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