[Life Act 3 Companies] "17 Years Ago, I Saw the Senior Care Market in Japan... That's Why I Went Abroad for Studies"

Im Gi-woong, CEO of Randal UdiCares

"I worked at a medical device distribution company. I was in charge of sales in Japan, and at that time, the Long-Term Care Insurance Act for the elderly had just passed in Korea and was entering the pilot phase. The CEO gave me a mission to secure contracts with companies selling elderly care products. I attended the welfare equipment expo held annually in Japan, and I was amazed. That’s when I saw the future. 'This market will soon open in Korea as well.'

On the 8th, during an interview with Asia Economy, Lim Ki-woong, CEO of Randal UD Care (51), recalled the moment he sensed the potential of the elderly care products market. His first business trip to Japan’s HCR (International Home Care & Rehabilitation) Expo during his corporate career became the catalyst for his startup. Determined to gain more academic expertise related to care to pursue a silver-related business, Lim studied welfare engineering at a graduate school in Japan. He also served for many years as an adjunct professor at Soongsil Cyber University’s Department of Elderly Welfare and Kyung Hee University’s Graduate School of East-West Medicine.

In addition to running a care product distribution company, he operates a senior home care welfare center in Incheon. Regarding the decreasing number of care workers, he pointed out that the issue is not the absolute shortage of care workers but rather the lack of specialized care workers capable of handling patients with severe conditions. He said, "Care workers need to develop expertise to care for severe patients and be compensated accordingly to attract younger workers."

Im Gi-ung, CEO of Randall U-Discare.

- Please explain the businesses you are currently operating.

▲ I operate two companies: 'Randal UD Cares,' a senior product distribution company, and 'Hottori Habiri Systems.' Both serve elderly clients; the former is a distribution company, and the latter is a consulting company with a subsidiary home care welfare center.

Randal UD Cares currently handles about 2,000 elderly welfare products. It is a specialized wholesale and retail silver product company for hospitals and nursing facilities, with a branch in Daegu Department Store. They distribute various items such as electric beds, side tables, safety handrails, and wheelchairs.

Hottori Habiri Systems Korea is a Japanese-affiliated corporation pursuing 'personalized independent rehabilitation' as a consulting company. It plans programs for elderly residents in welfare facilities and operates a subsidiary senior home care welfare center called 'Riha One.' Located in Cheongna-dong, Incheon, it has been operating for five years. The center has a capacity of 59 for day care and 5 for short-term care.

- I am curious about your journey to starting a business in the senior sector. What did you do before?

▲ In 2007, while working at a medical device distribution company, I first attended the annual International Home Care & Rehabilitation Expo called 'HCR' in Japan. I was truly amazed by the exhibition. It had been seven years since Japan introduced the long-term care insurance system, and the expo was huge. I saw the potential that someday Korea would have a market of this scale. At that time, I signed contracts with eight companies in Japan, but my company decided not to pursue the original business. So I thought, 'Then I will start my own business,' and I approached the companies I had contracts with to propose collaboration.

- You also studied abroad in Japan to pursue your business seriously.

▲ The more I did business, the more I realized how much I didn’t know. Although I was handling welfare products, I wasn’t sure if I was selling the right products, and I had many questions about the system itself, so I decided to study. I went to Japan to study welfare engineering at graduate school. During my studies, my advisor introduced me to people interested in Korea, including corporate executives. They invested in me, enabling me to establish Randal UD Cares and Hottori Habiri Systems Korea.

Photo of the Randall U-Discare branch in Daegu Department Store.

- Is the senior home care welfare center only in Incheon? Are there plans to expand?

▲ There are plans to expand, but rather than nationwide, we aim to develop a regional model. Once the current center reaches full capacity, we will open second and third branches nearby. We plan to operate only in the Incheon area. Incheon is a relatively new city with fewer elderly and more workers. Many users suffer from severe disabilities such as Parkinson’s disease and hemiplegia, so we have placed many health and medical professionals due to the high medical dependency.

- Demand for smart care is growing. Isn’t it also important to educate care workers to utilize technology?

▲ I still attend the Japanese welfare equipment expo every year, and what impresses me each time is how they apply advanced technologies like robots and AI to the long-term care insurance market. Korea is certainly ahead in AI, but when it comes to applying it in care settings, Japan seems more advanced. Japan places great importance on how to practically apply technology in the field. They provide extensive education and activities to increase technology acceptance and government-level support. Like Japan, most service providers in Korea are middle-aged in their 50s with low technology acceptance, so training and education are definitely needed. The government should consider policy support measures.

- As the CEO operating a senior home care welfare center, do you feel the supply of elderly care workers is decreasing?

▲ I don’t think there is an absolute shortage of care workers. The problem is the lack of care workers who can care for 'severe patients.' There are limits to care workers’ expertise, and if services are only provided at the level of household support, it becomes problematic. We should raise the bar to become a care worker or introduce specialized care worker qualifications to create differentiated services and attract younger people. In Japan, qualifications are divided into 'Kaigo Fukushishi' (certified care workers) recognized for expertise and 'helpers' who assist with simple household support.

- As someone who researched welfare engineering, what do you think is necessary for Korea’s welfare market to develop?

▲ Suppliers distributing products should not focus solely on selling but should study the products to enhance their expertise and actively communicate with manufacturers. If they only sell products with high profit margins, the market will struggle to develop further. Manufacturers should explain why they developed the products to distributors, and distributors should actively research which patients need which functional products.

- Any future plans?

▲ While advancing the current businesses, I plan to develop educational content. Especially as the senior welfare product market evolves by integrating technology, education is needed not only for suppliers but also for users. I tend to run my business academically. Instead of focusing solely on sales, I provide seminars and education to inform users about service and product usage and offer consulting to those who want to start a business in the senior welfare product field, thereby expanding my business. I think I might even establish a separate corporation in the future.