Koreans own more than 192,000 businesses in US, with $78 billion in sales

March 3, 2015
(Korea Times file)

Union Street in Queens, New York. (Korea Times file)

Koreans own and operate more than 192,000 businesses in the U.S., with about $78 billion in sales, according to a report compiled by Asian Americans Advancing Justice and Asian American Federation and released Friday.

Korean businesses employ about 423,000 and pay about $10 billion in wages, the report said.

Of those businesses, more than 59,000 of them are in the food industry. Meanwhile, Korean businesses make up 7 percent of the laundry sector in the United States.

The report was based on data from the U.S. Census. The total number of businesses in the U.S. is about 27 million.

White-owned businesses numbered 20 million, followed by Latino-owned businesses at 2.2 million and black-owned businesses by 1.9 million.

There were about 423,000 Chinese-owned businesses, followed by 308,000 Indian, 229,000 Vietnamese, 192,000 Korean, 163,000 Filipino and 108,000 Japanese.