CareDoc, a leading senior total care company in Korea, is spearheading a revolution in elderly care that aims to not only meet the needs of the aging population in Korea but also influence other countries, particularly in Southeast Asia. Founded by CEO Park Jae-byung in 2018, CareDoc offers a range of services including senior care matching, home caregiving, lifestyle care, home nursing visits, and more.
Park's vision for CareDoc stems from his experience running the volunteer organization for elderly individuals living alone, where he recognized the shortcomings of the existing elderly care system in Korea. Motivated by the desire to create a culture of care and respect for the elderly, Park established CareDoc with a focus on bridging the gap between the supply and demand for quality elderly care services.
With Korea facing challenges such as an aging population and a shortage of government resources for elderly care, CareDoc is pioneering a 'Senior Total Care System' that provides comprehensive care from hospitals to homes. The company recently launched 'CareDoc Care Home', a residential care facility brand designed to provide tailored care, social interaction, and a comfortable living environment. The success is undeniable - beds filled within just 6 to 7 months, prompting a staggering 20-branch expansion plan for 2024.
The success of CareDoc is evident in its rapid growth, with revenue increased by 140% from 2022 to last year, reaching W103 billion. The company's transaction amount has surpassed W180 billion, and it is on track to achieve a target revenue of W250 billion this year. Park aims to not only enhance existing services but also collaborate with major partners to create premium-grade senior towns.
Looking ahead, CareDoc is focused on achieving profitability by the end of this year and further expanding its services to provide seamless care for the elderly. With plans to open more Care Home branches and establish partnerships with key industry players, CareDoc is poised to continue leading the way in transforming the elderly care landscape in Korea and beyond.
(Source: The Financial News, Chosun Biz)
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