Koramco Asset Management and Trust announced on the 27th that it has signed a memorandum of understanding (MOU) with Caring, a senior care specialized company, to develop a senior housing business model.
Through this agreement, Koramco REITs Management and Trust and Caring plan to comprehensively cooperate on ▲ planning new senior housing complexes ▲ operating long-term care services in connection ▲ discovering new senior healthcare business models for the development of senior housing across the country.
Caring is a senior care specialized company that operates 54 directly managed locations nationwide, including day care centers, visit care centers, and a Training Institute for caregivers. The cumulative number of seniors receiving direct care has reached 16,000. Based on accumulated expertise in senior care, they will share know-how regarding the analysis of the domestic silver town and nursing home market and the development and operation of differentiated senior specialized spaces.
Koramco REITs Management and Trust holds approximately 20% market share in the domestic private REITs market. Recently, the company has been striving to discover new investment opportunities outside of traditional commercial real estate markets such as office, logistics, and retail, focusing on population aging and wellness trends. The recent memorandum of understanding with Caring is explained by the company as part of a preliminary review for entering the healthcare-based senior housing market.
Kim Cheol-kyu, head of the REITs investment division at Koramco REITs Management and Trust, noted, "Through this agreement, we will consider the development of competitive senior housing products aimed at senior housing sites across the country," and added, "We will be able to provide efficient asset utilization solutions to individuals and corporations holding idle land nationwide, while also offering products that meet both pleasant facilities and quality services simultaneously for the elderly in need of facilities."