Korea’s population is aging faster than almost anywhere else in the developed world. More than 1 in 5 — around 11.25 million people — are now aged 65 or older, a demographic shift that is expected to propel the country’s silver economy from 72 trillion won in 2020 to 168 trillion won by 2030. Yet one corner of that economy remains strikingly underdeveloped: senior living. Unlike nursing homes, which are designed primarily around long-term clinical care, senior living communities combine housing with hospitality, wellness and social engagement. “Residents are customers choosing a lifestyle rather than patients receiving care,” said Josh Rose-Nokes, head of Asia Pacific living research at Cushman & Wakefield. While countries like Australia and Japan have built more mature senior living sectors supported by experienced operators and deep pools of institutional capital, Korea is still in the early stages of developing the asset class. “On penetration, independent senior housing and retirement living provision in Korea sit at a fraction of 1 percent of the older population, again