Silver Town Shortage in Korea: Special Law Targets Middle-Class Senior Housing

The People Power Party said on Feb. 12 that it would pursue a special law to expand the supply of silver towns, or senior welfare housing, for low- and middle-income older adults. The party views the current system as restrictive because senior welfare housing is subject to multiple separate laws, including the Elderly Welfare Act, social welfare laws and housing laws, affecting approval, construction and operation. According to hankyung.com, Korea had 39 silver towns and 8,840 households as of 2022, far below Japan, where 630,000 people lived in 16,724 facilities. The party plans to simplify procedures through the law and promote models such as a Korean-style continuing care retirement community. Source: hankyung.com