On July 16, DR & AJU signed an MOU with the Korea Association of Real Estate Investment Trust (KAREIT) to collaborate on the development of University-Based Retirement Communities (UBRCs). The MOU aims to establish a cooperative framework in the senior financial sector to cope with the increasing challenges posed by an aging population, including rising housing and care costs, as well as increasing medical and welfare expenditures.

DR & AJU is the first Korean law firm to launch a dedicated Advance Senior Life (ASL) Team, and has been exploring UBRC business models in collaboration with over ten major Korean universities. Under the MOU, DR & AJU plans to accelerate the development of UBRCs in Korea based on its strategic partnership with KAREIT.

DR & AJU provides comprehensive legal advisory services encompassing real estate investment trusts (REITs), security token offerings (STOs), asset management, and financial products essential for the development and operation of senior communities. The firm also contributes to establishing the institutional framework for integrated community models tailored to the specific needs of the elderly.

DR & AJU’s Managing Partner, Kyu Chul LEE stated, “Given that Korea’s legal system related to senior communities is still underdeveloped, we are committed to fully supporting the success of UBRC initiatives by offering effective legal interpretations and forward-looking advisory services.”