First Entry into Long-term Care Business in Life Insurance Industry... KB Life Insurance to Acquire KB Golden Life Care
Subsidiary Incorporation with Financial Authorities' Approval
KB Life Insurance will incorporate KB Golden Life Care, a nursing care business specialized holding company, as its subsidiary. It is expected to be the first in the life insurance industry to enter the nursing care business.
On the 26th, KB Life Insurance announced that it received approval from financial authorities and will incorporate KB Golden Life Care as a subsidiary early next month.
KB Golden Life Care is a nursing care business specialist established by KB Insurance in 2016. To provide "urban premium life care services," it operates villages (elderly nursing facilities) and care centers (day and night care services). After opening the day and night care facility "Gangdong Care Center" in 2017, it successively opened urban nursing facilities "Wirye Village" and "Seocho Village" in 2019 and 2021, respectively.
KB Life Insurance plans to expand its business area to senior life care services with this entry into the nursing care business. Additionally, through this subsidiary incorporation, it aims to create synergy in customers, services, and products between life insurance business preparing for customers' old age and the nursing care business.
Furthermore, active infrastructure investment will continue. ▲ Expansion of facility supply centered on major cities such as Seoul and the metropolitan area ▲ Provision of senior life care services and products linked with the Life 3 companies (KB Life Insurance, KB Life Partners, KB Golden Life Care) ▲ Establishment of a senior life platform ecosystem through phased expansion into adjacent areas centered on the nursing care business are planned.
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A KB Life Insurance official stated, "We will strive for KB Golden Life Care to become the industry standard to activate entry into the nursing care market due to aging," adding, "We will lead the industry by providing stable services and premium senior life care services."
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