Carenation Reports KRW 60.26 Billion in Platform Transactions Amid South Korea's Aging Population
The Seoul-based integrated healthcare platform is expanding its services as demand for home-based care accelerates following new legislation.
Carenation
Carenation, a Seoul-based integrated healthcare platform that matches patients with professional caregivers, said in a statement that it recorded KRW 60.26 billion in gross transaction value (Platform) in 2025. The company offers in-hospital care, in-home care, home visit care, hospital escort, postpartum care, and housekeeping care.
The company, which connects patients and their families with caregivers for services ranging from in-hospital care to postpartum support, said platform transactions rose more than 10 percent from KRW 54.52 billion in 2024. Consolidated revenue climbed 21 percent to KRW 17.2 billion, up from KRW 14.2 billion a year earlier. The results mark the second consecutive year that transactions on the platform have exceeded KRW 50 billion, even as stricter claims reviews and tighter payout rules have weighed on South Korea's private caregiving insurance market.
Dominant Market Position
Carenation's grip on the caregiver-matching app market has grown increasingly firm. Between May 2025 and April 2026, the platform's two apps — one for patients and families, one for caregivers — recorded roughly 470,000 combined downloads on Google Play, with no competitor coming close. The next closest apps from Caredoc and Good-Care had each accumulated more than 100,000 lifetime downloads as of May 2026, while four others had exceeded 10,000. In effect, Carenation's downloads over a single year matched the entire lifetime totals of individual competing apps.
A Rapidly Aging Society
The company's growth is being shaped by one of the most dramatic demographic shifts in the developed world. South Korea crossed into "super-aged" territory in late 2024, with more than 20 percent of its population aged 65 or older. A policy shift has accelerated the trend.
Following the enactment of the Integrated Care Support Act in March 2025, home-based care demand has expanded rapidly, with Carenation seen as a key entry channel into the caregiving platform market.
Expanding Services
In May 2026, Carenation launched a beta version of its home visit care service, designed to match long-term care beneficiaries with long-term care workers and home visit care providers. The launch is intended to address growing in-home care demand following the new legislation and to further strengthen Carenation's competitiveness as an integrated care platform.
"Building on the operational experience and data we have accumulated in the field, we plan to fully roll out our home visit care matching service in 2026 and establish a more reliable caregiving infrastructure," the co-chief executive said.
Carenation was founded in 2013 and is operated by Carenation Inc., headquartered in Seoul.
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