SOMPO Care and KB Financial Group Strengthen Long-Term Care Collaboration

Strengthening Long-Term Care Between Japan and Korea

On December 22, 2025, SOMPO Care, a prominent Japanese healthcare company, formally declared a joint initiative with KB Life, a leading insurance firm in South Korea, and its care subsidiary, KB Golden Life Care. This declaration marks a significant step towards enhancing cooperation in the elder care sector between the two countries, aligning with the growing needs of an aging population.

Background and Objectives

In June 2023, SOMPO Holdings, led by CEO Mikio Okumura, entered a strategic partnership with KB Financial Group, under CEO Jong Hee-Yang, to cultivate a collaborative framework for elder care services. Consequently, from October 2023, SOMPO Care began providing educational training programs for KB Golden Life Care, focusing on skill enhancement for caregivers and nurses in South Korea. Until now, the cooperation has mainly revolved around individual educational initiatives and consultancy services aimed at improving operational aspects of care facilities.

With the new five-year contract signed between SOMPO Care and KB Golden Life Care, the collaboration will extend beyond isolated support services. They are set to offer a comprehensive consulting service that aids in the overall business operations of KB Golden Life Care. Moreover, the focus on long-term collaboration aims to build a robust framework encompassing care services, management, and innovative business practices in both countries, demonstrating the significance of creating sustainable business models that address shared challenges.

Overview of the Joint Declaration

During the declaration event, four primary collaboration objectives were identified, focusing on:

- Development of the elder care industry
- Improvement in the quality of care services
- Training and development of human resources
- Innovation in management practices

The agreement highlights the commitment of both entities to hold regular consultations and explore joint projects to deepen their collaborative efforts in these areas.

Comments from Company Leaders

SOMPO Care, CEO Takamitsu Watanabe

Watanabe emphasized the rapid growth of Korea’s elder care market and the potential synergies generated through collaboration with KB Financial Group. He expressed optimism about combining strengths to create superior care models together.

KB Life, CEO Jeong Mun-cheol

Jeong noted that the declaration represents a foundational step for integrating KB Life’s extensive experience in elder business with Japan’s advanced caregiving expertise, aiming to design a more comprehensive and sophisticated life care ecosystem. KB Life is committed to delivering trustworthy elder care services, maintaining its dedication to customer respect and care excellence.

KB Golden Life Care, CEO An Sang-bong

An remarked that the partnership with SOMPO Care would significantly enhance the operation and service competitiveness of KB Golden Life Care. They aim to elevate the quality of life for residents through precise care while empowering caregiving staff, ultimately setting new standards in South Korean elder care.

Future Directions

The joint declaration serves as a catalyst for SOMPO Care to fortify its relationship with the KB Group, aspiring to establish a globally recognized care model by merging insights from both Japan and Korea. SOMPO Care remains committed to leveraging its innovative practices from Japan, a country recognized for its advanced elder care solutions, to tackle social challenges in caregiving realms abroad, emphasizing a dedication to service improvement and expertise sharing across borders.

As the collaboration evolves, SOMPO Care and KB Financial Group aim to address the urgent issues of an aging society while promoting sustainable care services that prioritize both residents and caregivers alike.