LGU+ and Shinhan Lifecare Sign MOU to Develop AI-Equipped Senior-Exclusive Space

Development of Senior Spaces Equipped with AI and Healthcare Services
LG Business Research Institute to Design Space Layout

LG Uplus announced on the 18th that it has signed a Memorandum of Understanding (MOU) with Shinhan Lifecare to collaborate on a senior-exclusive space business.

Since signing a business agreement for cooperation in the senior-exclusive space project, (from left) Kim Soon-gi, Head of Strategic Planning Group at Shinhan Life, Woo Seok-moon, CEO of Shinhan Life Care, Kwon Yong-hyun, Head of LG Uplus Enterprise Division, and Ahn Ji-yong, Director of Space Research Institute at LG Management Research Institute, are taking a commemorative photo. Photo by LG Uplus

Shinhan Lifecare is a subsidiary dedicated to the senior business of the insurance company 'Shinhan Life' and officially launched as an independent corporation in January. In the second half of the year, it plans to open a daycare center in Bundang-gu, Seongnam City, and by 2027, establish a silver town in Eunpyeong-gu, Seoul, preparing facilities targeting the elderly. In particular, the silver town aims to provide services that cover all aspects of daily life, including finance, medical care, healthcare, culture, arts, and sports, beyond simply offering residential spaces.

LG Uplus decided to expand its senior business in line with the growing market size of the senior-related industry. The Korea Health Industry Development Institute forecasts that the domestic silver industry market will grow to 168 trillion won by 2030.

Through this MOU, the two companies will jointly develop next-generation senior-exclusive spaces equipped with artificial intelligence (AI) and healthcare services. LG Uplus plans to install health management services and senior safety-related solutions developed for each space. They also plan to provide personalized services by applying their proprietary AI, 'ixi.' To ensure the optimized performance of the applied solutions, they will design the space in collaboration with the 'Space Research Institute' under the LG Management Research Institute.

Before starting the project, the two companies and related parties held a signing ceremony to pledge cooperation in developing a senior space platform service model. Attendees at the ceremony included Kwon Yong-hyun, Head of LG Uplus Enterprise Division; Woo Seok-moon, CEO of Shinhan Lifecare; Kim Soon-gi, Head of Shinhan Life Strategic Planning Group; and Ahn Ji-yong, Director of the Space Research Institute at LG Management Research Institute.

Woo Seok-moon, CEO of Shinhan Lifecare, said, "We want to build a partnership with LG Uplus, a specialized senior platform company, from the early stages of the business to establish a solid foundation together. We will strive to create a differentiated senior residential culture and provide a comfortable life for the elderly by utilizing AI and platforms."

Kwon Yong-hyun, Head of LG Uplus Enterprise Division, stated, "We will make efforts to present a higher-level senior residential space than now through more healthcare platforms and AI-applied services in the future."

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