The Formation And Development Of Korean American's Business Since 1965

Contemporary Korean Americans are those new immigrants who come from post-1965, they generally have middle-class background, received higher education, had engaged in white-collar or professional work in South Korea. They came to the United States with beautiful dreams. However, due to the mainstream labour market's restrictions, they turn to the small business as the way to achieve the American Dreams.Korean business mainly located in Koreantown and the black community ,it can be divided into three types: The first is based on America-Korea trade as well as Asia trade, such business is mainly imported popular goods and the products which satisfy the Korean's demands. The second is the professional company which is providing services for Koreans, including medical, legal, accounting ,real estate, and insurance services .The third is typical American small business ,such as the grocery industry, produce stores, nail salons, dry cleaners and so on.Immigrants in the United States have a long history of business. However, Korean immigrants commercial development is particularly significant. Analysis of the reasons for the formation and development of Korean immigrants business, it can be attributed to three factors :first, there are structural disadvantages and structural advantages in American's economic structure at the same time, promoted the formation of Korean immigrant business. Second, the Korean Americans' class resources and ethnic resources played a significant role. The third factor is the role of such "modern" ethnic institutions as the churches, alumni associations, ethnic medias and businessmen's associations in the Korean community.Korean immigrants commercial development not only improve the Korean socio-economic status in the United States, perfected the Korean migrant community development, but also make great contributions to the America's inner city's development.