Fast-ageing Korea sees money in luxury retirement homes
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The wealth of South Korea’s new retirees is at an all-time high, thanks to careers that overlapped with the country’s economic boom years.
PHOTO: AFP
Eighty-five-year-old Park Jong-chul in Seoul recently decided it was time to move to a retirement home to secure the help he and his wife were starting to need.
After viewing a presentation for VL Le West, a high-end apartment complex for seniors being developed by conglomerate Lotte, he is ready to sign up for one of the few remaining rooms.