About us
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The Korean-American story is built on an exceptional foundation. Our journey began uniquely, as the only Asian people in U.S. history to be treated as equals to European immigrants.
This pioneering legacy was exemplified by Dr. Philip Jaisohn (Seo Jae-pil), the first licensed Asian-American medical doctor and the first Korean-American businessman. He also stood at the forefront of the Korean independence movement, laying the groundwork for the Korean-American journey.
Today, K-culture is a massive wave sweeping the globe. K-pop, K-drama, and many other “K”s are being driven not just by Korea, but also by the Korean Diaspora in the U.S. We may not boast about it, but it is truly proven that we are unique and special.
Whether small or micro, our businesses have always served as the platform for all the great things we do in every corner of American society. Businesses are the centerpiece and purpose for us to stay united, bridging generational gaps and differences. Based on the common mission of all Koreans—the Hong-ik principle, which means to “broadly benefit all humanity”—our union is strong, and we shine even though our numbers are very small.
To keep this light burning brightly, the Korean Diaspora Business Initiative was formed by all major Korean commerce organizations.
Korean American Businesses
Korean Americans are actively involved in various sectors of mainstream American society. Here, we introduce some of the major industries that have overcome language and cultural barriers to pave the way for today’s prosperous immigrant community.
Beauty Supply
* Retail Sales: $4.2 billion * Wholesale Sales: $2.3 billion * Store Count: Over 6,500 * Key Organizations: NFBS (National Federation of Beauty Supply), Future Beauty Supply Association, BBKWA (Beauty Business Korean Women's Association), Beauty 21 Group.
Food & Beverage
* Annual Revenue: $20 billion * Store Counts: 5,000 * Growth of K-food is sharply increasing. *:Key Organization: The Korean American Grocers & Licensed Beverage Association (KAGRO International) leads 29 regional chapters.
Dry Cleaning
* Annual Revenue: $10 billion * Store Counts: 10,000 stores * Trends: As the 1st gen of Korean Americans retires, the number of businesses is gradually decreasing.. * Key Organizations: Korean American Laundry Owners Association.with chapters.
Taekwondo Ed.
* Dojang Counts: 3,523 schools * Annual Revenue: Information not provided * About 30 million Taekwondo population in U.S. * Key Organizations: Kukkiwon U.S. major state chapters, and World Taekwondo Federation
KDBI Leadership
Korean Expats Business Initiative (KEBI)
Founded in 2017, registered in 2025, and has applied for 501(c) status
KDBI LEADERSHIP
ByungGu Hwang
Kwang T. Kim
Sang Kyu Na
Travis H. Johng
Chun Jae Park, Ph.D.
Sangyong Lee
TBA
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Steve S. Ra
In July 2024, the movement to abolish postal tariffs, which was resolved at the 2nd Beauty Industry Leaders Meeting in Atlanta, bore fruit and succeeded in protecting the profits of retail stores from online direct-to-consumer platforms like Temu.
Based on this valuable experience, we now wish to take a new step forward with bigger dreams and a heavier sense of responsibility.
Our homeland, the Republic of Korea, is the root and pride of us all. Its peace and prosperity have had a direct and indirect impact on the lives of overseas Koreans. Therefore, with the South-North-U.S. relationship having cooled, we urge the re-opening of the Kaesong Industrial Complex, which has been suspended for several years. We believe that we, as overseas Koreans who are members of the Korean people and global citizens and businesspeople rooted in a third country, must take on the role of a “guarantor of peace” by establishing a peace wig factory in Kaesong. The inauguration of President Lee Jae-myung, who hopes for a peaceful Korean Peninsula, and Minister of Unification Chung Dong-young seems to offer a new opportunity for everyone while calling on us to fulfill our responsibilities as members of the Korean people.
Overseas Korean beauty entrepreneurs, as global economic entities rooted in third countries, not in South or North Korea, possess the capacity to encompass the entire global supply chain, from production to distribution. Especially in places like the United States, Southeast Asia, Central and South America, and Africa, we exert a tangible influence on local economies. This status is a strength that can function as a bridge for economic cooperation, transcending political confrontation between the two Koreas.
Minister of Unification Chung Dong-young of the People’s Sovereignty Government has made the resumption of the Kaesong Industrial Complex a key state agenda. He has previously stated at the NBSDA Trade Show banquet in 2009 that “if capital from overseas Koreans is invested in Kaesong, it would be less of a political burden for both South and North Korea and could play a practical role in improving relations between the U.S. and North Korea.”
Furthermore, unlike previous U.S. administrations that have been passive in their response to North Korean issues, President Trump has shown a willingness to solve the problem by attempting direct dialogue with North Korea. Following the will of these two leaders, we, as citizens of both the U.S. and South Korea, are convinced that this is a very important turning point to raise our voices and realize the dream of reopening the Kaesong Industrial Complex and establishing a peace wig factory for peace.
As overseas Koreans whose hearts are moved by the mere word “homeland,” we are expanding and transitioning the Beauty Industry Leaders Meeting into a formal international non-profit organization to be reborn as the “Korean Expats Business Initiative.”
We ask for the active participation of all beauty industry leaders in this meaningful journey of private diplomacy led by local businesspeople.
Thank you.
FOUNDING MEMBER
The CosmoBiz Institute, which is responsible for the establishment and practical work of KDBI, is a non-profit organization founded in 2009 with the purpose of promoting research, education, publication, and exchange on the main industries of Korean American immigrants.
Research & Publishing
- 2009 – Present: Published the monthly Korean-language magazine, CosmoBiz.
- 2014: Published the Beauty Consultant’s Textbook (470 pages, English).
- 2015 – 2020: Published the monthly English-language magazine, CosmoBiz Salon.
- 2009 – 2020: Collected beauty industry statistics and published an annual report.
- Developed consumer products and guides based on changing consumer trends.
Professional Career/Business Education
- 2010: Developed a wig education curriculum in collaboration with the Korean Wig Association.
- Conducted nationwide traveling training for wig specialists in 7 U.S. cities.
- Provided customized employee training for manufacturing and wholesale companies.
- Conducted product understanding seminars to promote sales.
- Developed and provided training on U.S. commercial law, conflict with customers, and cultural adaptation.
Public Service Projects
- 2016: Conducted a cooperative association briefing for beauty industry leaders.
- 2017: Established and built the system for the NABOR beauty cooperative.
- 2010 – Present: Provided technical support and assistance for community service activities, such as outreach.
- Mediated to resolve conflicts and complaints between wholesalers and retailers.
- Conducted research on and established beauty industry standards and specifications.
Meetings, Seminars, and Forums
The beauty supply industry in the U.S. is vast, with associations for hair product importers, four national associations, and over 30 regional groups. Upon request, free seminars, lectures, and training sessions are provided to each organization.
Additionally, advocacy is carried out for the beauty industry with the U.S. federal and state governments. Specifically, activities are conducted to demand legislative amendments and prevent unreasonable penalties from committees in several state governments that were pushing for mandatory licenses for selling wigs.
