Joins Hands with Senior Care Specialist Shinhan Life Care
Cooperation on Developing Senior Welfare Housing Business Models, Pursuing Public Tender Projects, and More
Hyundai E&C is strengthening its competitiveness to lead senior housing culture in preparation for the super-aged era.
On June 24, Hyundai E&C signed a business agreement with Shinhan Life Care to develop senior housing models at Hyundai E&C's headquarters in Gye-dong, Jongno-gu, Seoul. The signing ceremony was attended by Lee Dong-hoon, Head of Hyundai E&C's Development Business Division, Kim Soon-ki, Head of Shinhan Life's Strategic Planning Group, Woo Seok-moon, CEO of Shinhan Life Care, and other key officials from both companies.
Through this agreement, the two companies plan to cooperate closely on △developing senior welfare housing business models and △joint investment and development to pursue public tender projects for senior welfare housing, while also seeking opportunities to create synergy across the entire spectrum of senior welfare housing.
Hyundai E&C is accelerating the development of an innovative, future-oriented healthy-housing residential model that proactively cares for residents' lives with the goal of extending healthy lifespans and enhancing happiness. In particular, as the baby boomer generation (born 1955–1963) enters old age and a super-aged society approaches, the company is preparing multifaceted responses in line with the changing times, such as applying senior-oriented products to multi-family housing and participating in senior housing development projects.
Shinhan Life Care is a subsidiary dedicated to the senior healthcare business under Shinhan Life, the life insurance affiliate of Shinhan Financial Group. Launched as an independent corporation earlier this year, it is currently preparing to establish four nursing facilities and two silver towns. As a brand specializing in senior care services, it plans to establish and operate day care centers, nursing facilities, and integrated silver town complexes, building a system that links facilities and services according to the health status of later-stage seniors aged 75 and older. In particular, through collaboration among group affiliates, it plans to create silver towns encompassing everyday services such as finance, medical and healthcare, culture and arts, and leisure sports.
Building on this agreement, Hyundai E&C plans to advance a residential model optimized for the senior generation by combining its long-accumulated residential-space construction technology and know-how with Shinhan Life Care's experience and specialized systems gained from operating senior residential welfare facilities.
Meanwhile, Hyundai E&C has previously signed business agreements with a global leader in the biotechnology and genetic testing field and a leading domestic company in the IT services (AI and cloud) field, in order to design residential spaces that can comprehensively manage residents' lives. Based on its unrivaled capabilities in residential-space construction, the company plans to secure differentiated software through convergence with leading companies in each field and present its hyper-personalized, customized healthy housing.
A Hyundai E&C official said, "As the aging ratio accelerates along with changes in the age distribution of the population, we believe the need for residential spaces that take the senior generation into account will also grow," adding, "By building an early-stage partnership with a senior healthcare specialist and strengthening mutual cooperation, we will create synergy in developing residential models and products that can respond to future demand."
▲ Hyundai E&C and Shinhan Life Care signed a business agreement to develop senior housing models.