Thrive Senior Living is making strides internationally with the launch of a new management platform in South Korea in partnership with the country’s largest multifamily operator.
The joint venture, known as Thrive-GHP, will cater to older adults in South Korea’s rapidly growing senior living sector. With 17 communities under management in the U.S., Thrive is now extending its reach to South Korea alongside GH Partners, a Seoul-based company managing 20,000 rental units across the country.
Thrive-GHP will focus on providing active adult and independent living communities in South Korea, offering third-party care to support aging residents. Beyond management, the company plans to provide services such as brand licensing, technology partnerships, and customer service training programs.
Founder Jeramy Ragsdale views South Korea as a market with immense potential due to its aging population and lack of dedicated senior housing. With investor interest growing, Thrive aims to lead the way in offering sophisticated senior living solutions.
Having already ventured into countries like Thailand and the UK, Thrive’s expansion into South Korea signifies its commitment to overseas growth. With a successful year in its U.S. portfolio, the company is gearing up for new developments and opportunities abroad.
With a development pipeline in the works, Thrive is poised to break ground on new projects in the coming months, showcasing its dedication to providing quality senior living options globally.
