Seniors Housing in a Changing Asian Society: South Korea

Abstract

Traditionally, aging Koreans would live with their eldest son’s family. However, urbanization, economic expansion, and changing demographics are contributing to South Koreans considering alternative living arrangements. One possibility is the development of seniors housing, available only on a very limited basis today. This analysis indicates that a number of aging Koreans are interested in independent living, and many will soon have the economic resources to create demand for this type of housing. However, government policies would have to change for this product type to be developed successfully on a large scale.