The aging of the population in Korea began relatively recently compared to other countries, but the pace of aging is unprecedentedly fast. Due to the acceleration of the aging pace and the extension of life expectancy, the elderly population aged 75 and older, whose demand for care is increasing, is expected to continue to increase. In addition, considering the high prevalence of dementia in Korea, the demand for and financial expenditures in the elderly care sector, including long-term care insurance, are expected to continue to increase in the future. This chapter examines the structure, current status, and necessity of long-term care insurance in Korea and identifies challenges for future directions.