Geum Yi

LA Korean Festival pulls in $1 million in 42nd year

December 8, 2015
Leaders of the Los Angeles Korean Festival Foundation

Leaders of the Los Angeles Korean Festival Foundation

The Los Angeles Korean Festival, which celebrated its 42nd run in October as the largest event of its kind in the United States, saw more than $1 million in revenue this year, marking six years of surplus, the festival foundation said Monday.

According to the foundation, the four-day festival — which was held Oct. 1 to 4 — brought in a record $1.04 million, including $690,000 from booths and $193,000 from donors.

The foundation spent $978,688 on festival costs this year, meaning it had a net profit of $62,693.

The foundation said net profit actually decreased from last year, as it spent more on an upgraded stage set-up and the marketplace this year.

“Starting with the success we saw this year, we’re hoping to gain more of a net profit next year,” said Park Yoon-sook, president of the festival foundation.

The annual festival draws hundreds of thousands to Seoul International Park in Koreatown. Its attractions include musical acts, food and vendor booths, cultural performances and a Saturday parade down Olympic Boulevard.