At the time of writing, Japan has been using a long-term care (LTC) insurance system since 2000 for more than 24 years, and South Korea has been offering LTC insurance for the elderly since 2008 for more than 16 years. Although it can be said to have entered a period of measures and stability against the rapid aging of the population, the limitations of the public LTC insurance system so far have been shown. The reasons are that the baby boomer generation is becoming the late elderly in Japan and the baby boomer generation in South Korea is beginning to become elderly. Both Japan and South Korea are facing limitations such as financial deterioration due to a decline in the overall population and a rapid increase in the rate of aging and an increase in demand for high-quality services in urban areas, an increase in demand for nursing care facilities and nursing care specialists, and a shortage of care workers under the current public LTC insurance system. Therefore, this chapter will clarify the limitations of the public LTC insurance system and the roles of the private LTC market by studying previous literature and comparative studies in Japan and South Korea.