#South Korea #Busan #Yamashita #Human Server #Caregiving Supplies

Yamashita's Expansion into the Korean Caregiving Market

Yamashita, a leading Japanese company in caregiving supplies and rentals, is announcing its expansion into South Korea with the acquisition of shares in Yamashita SamJung Co., a subsidiary of HUMAN SERVER, LTD. This will mark the company's entry into the Korean caregiving product wholesale business, commencing on April 4, 2025. This move follows its successful venture into China, where it established a joint venture in Shanghai in 2020.

Understanding the Aging Population in Korea

As of 2023, the global population has exceeded 8 billion, with projections indicating it could rise to nearly 10 billion by 2050. Notably, Asia's population is expected to increase from 4.8 billion in 2023 to over 5.3 billion in 2050, maintaining more than half of the world's population. Amid these changes, the average life expectancy continues to rise, with estimates suggesting that by 2060, there will be over 1.2 billion individuals aged 65 and older in Asia—a staggering statistic that includes one in ten elderly individuals globally coming from this region.

In particular, Japan has gained global attention for its high-quality caregiving services, backed by its public caregiving insurance system. Yamashita has played a crucial role in this narrative, promoting rental services for caregiving supplies since before the implementation of Japan's caregiving insurance policy in 1986.

As part of its overseas expansion, Yamashita has also engaged with local caregiving businesses in Korea. According to surveys conducted with these local operators, a significant demand for high-quality caregiving supplies has been identified, indicating a gap in the market that Yamashita aims to fill with its imported products from Japan and other countries.

The Rise of the Elderly Population in Korea

Korea is experiencing an unprecedented aging rate. Predictions forecast that by 2045, the percentage of elderly people (aged 65 and over) in Korea will surpass that of Japan, making it the leading country in Asia in terms of elderly population ratio. This demographic shift is already reflected in the substantial increase in welfare equipment rentals, growing continuously from 2010 to 2023.

This success has inevitably led to an expanding market for caregiving equipment rentals, which is estimated to grow further by 2040. Yamashita's entry into this market will not only provide a solution to the pressing demand for quality supplies but also ensure that caregiving standards meet the needs of the aging populace in Korea.

Business Overview and Future Prospects

Yamashita SamJung Co. aims to leverage HUMAN SERVER's established sales channels to distribute superior caregiving supplies from overseas to local rental companies. This will eventually pave the way for future expansions into caregiving education and direct rental services.

Company Overview of Yamashita SamJung Co.

• - Name: Yamashita SamJung Co., Ltd.
• - Location: Busan, South Korea
• - Establishment Date: October 23, 2023
• - Leadership: CEO Kazuki Yamashita
• - Business Focus: Wholesale of caregiving supplies
• - Investment Ratio: Yamashita (67.1%) and HUMAN SERVER (32.9%)

A Look at Yamashita Corporation

Since its inception in 1963, Yamashita has operated under the philosophy of 'Living Correctly, Living Richly,' establishing itself as a top player in both linen supply and caregiving rental businesses. The company thrives on creating a constructive cycle between employee satisfaction and customer experience, aiming for sales of 85 billion yen by 2030 while simultaneously focusing on digital transformation and expansion into overseas markets. With ambitions to achieve an unprecedented sales target of 1 trillion yen by 2050 through continuous innovation, the journey of Yamashita Corporation serves as an inspiring example of adaptability in the face of demographic changes.

For more information on Yamashita, visit their corporate site or check their comprehensive caregiving services online at Yamashita Online Store.