Boram Group Steps Up "Funeral Services 4.0," Accelerates Shift to Total Life Care

Redesigning Product Structures, Membership and Business Models Around Customers

Boram Group is stepping up its “Funeral Services 4.0” strategy, moving beyond its traditional funeral-focused prepaid service business to redesign its products, membership offerings and business models around customers. The company aims to accelerate its transformation into a total life-care provider by expanding the benefits customers can enjoy in their daily lives between signing up and using its funeral services.

According to industry sources on November 11, Boram Group is expanding related businesses with three priorities at the core of Funeral Services 4.0: consumer-focused product innovation, membership innovation centered on everyday benefits, and the development of a sustainable life-care business model.

Boram Group divides the evolution of the funeral service industry into three stages: “Funeral Services 1.0,” centered on funeral services; “Funeral Services 2.0,” which expanded membership through bundled home appliance plans; and “Funeral Services 3.0,” which broadened the scope to lifestyle services such as travel and leisure. Funeral Services 4.0 goes a step further by redesigning product structures, customer benefits and sales channels from the customer’s perspective.

Kim Hyunsoo, Managing Director and Head of Business Planning at Boram Group. Boram Group

Funeral Services 4.0 is part of “NEXT,” a mid- to long-term growth strategy led by Boram Group’s Future Strategy Office. The office sets the group’s mid- to long-term growth direction, and the Business Planning Division translates it into products, partnership services and new businesses.

The business transformation is being led by Kim Hyunsoo, Executive Director of the Business Planning Division at Boram Group. Drawing on his experience in retail, marketing and business strategy at Hyundai Department Store Group and Ceragem, Kim is responsible for turning the NEXT strategy into actual businesses.

A prominent example is “B&Care Pack,” a home appliance partnership plan launched in collaboration with Samsung Electronics and Samsung Card. It allows consumers to choose funeral services while purchasing or subscribing to home appliances through official retail channels such as Samsung Stores.

While traditional home appliance bundle plans combined funeral service plans with appliances for sale, B&Care Pack separates the benefits of purchasing appliances from the funeral service contract. Boram Group says this reduces consumer confusion caused by complex pricing structures and contract terms, while allowing customers to compare and choose plans directly.

The group is also expanding “B&Alliance,” a membership platform focused on everyday needs. Rather than basing benefits primarily on services offered by its affiliates, the platform uses an open membership model that partners with external specialists to meet customer needs.

It currently works with Shin & Kim LLC in the fields of law, taxation and accounting, and is expanding its partnerships into parking, everyday conveniences, mobility, travel and leisure. The company plans to focus not simply on increasing the number of partnership benefits, but on services that customers can use when they actually need them and that can be provided over the long term.

“Funeral Services 4.0 means changing our business structure so that customers can experience tangible value in their daily lives after signing up, rather than only receiving funeral services at some point in the future,” Kim said. “We will create new standards for competition centered on the services customers want.”

This content was produced with the assistance of AI translation services.