Caredoc Partners with US IHC for Senior Housing Collaboration

Collaboration for Developing Premium High-End Senior Housing Products

CareDoc is partnering with a U.S. senior living specialist company to lay the foundation for developing six-star hotel-level senior housing. CareDoc announced on the 7th that it has signed a memorandum of understanding (MOU) with the U.S. senior living specialist company ‘Inspired Healthcare Capital Korea Co., Ltd.’ (IHC), which is entering the Korean market this month, regarding the development of senior housing products.

Founded in 2015, IHC is a senior living company primarily operating senior housing and healthcare funds. It currently operates senior housing facilities in 40 locations across the United States.

Park Jaebyeong, CEO of CareDoc (left), is taking a commemorative photo after signing the agreement.

This MOU focuses on developing a new Korean-style high-end senior housing product. The two companies will jointly develop an ultra-luxury product that meets the level of grades 6 to 7 in the ‘Senior Town Standard Grade Guide’ announced by CareDoc. The plan is to develop a product comparable to Manhattan’s Upper East Side, a wealthy neighborhood in the U.S.

First, construction will begin next year on facilities equipped with amenities and services equivalent to a six-star hotel in major areas including the Seoul metropolitan area. In addition, they will maintain organic cooperation throughout the entire product development process, including ▲ senior housing product consulting and development ▲ operations ▲ senior customer acquisition and marketing ▲ utilization of senior care service personnel and platforms.

Park Jaebyeong, CEO of CareDoc, said, "Signing the MOU with IHC is an opportunity to present a high-end senior housing product of a grade that has never existed before in the nascent Korean senior housing market." He added, "We will continue to lead the advancement of senior housing products, solidify the market foundation, and contribute to a quantitative and qualitative quantum leap as ‘K-Senior Housing’ with global competitiveness."

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