1. Economic and Financial Conditions of Korean-Americans October 30, 2015 Hansa Institute

2. Data Sources The data presented herein come from the following pages in the Hansa 2015 Population and Household Statistics Factsheet– Midwest Edition: – Korean-American Population in the U.S. Pages 5-6 – Korean-American Population in IL: City of Chicago Pages 51-52 – Korean-American Population in IL: Suburban Cook County Pages 53-54 Color-coded cells – Yellow cell = declining trend between 2007 and 2012 – Red cell = increasing trend between 2007 and 2012

3. Class of Work: Self-employment Rate ( 자영업 비율 ) Region 2000 Census 2005-2007 ACS 2008-12 ACS U.S.20.74% 20.83%19.97% Cook County 22.49% 25.67%22.25% Chicago 19.24%14.92% 8.46%

4. Industry Code for Occupation: Retail Sale ( 소매업 ) Region 2000 Census 2005-2007 ACS 2008-12 ACS U.S.109,908 127,192123,542 Cook County 2,176 2,3482,087 Chicago 858862665

5. Industry Code for Occupation: Finance and Professional ( 금융업 ) Region 2000 Census 2005-2007 ACS 2008-12 ACS U.S.98,186 138,031153,349 Cook County 1,919 2,6772,686 Chicago 1,6421,9072,223

6. Industry Code for Occupation: Restaurant ( 식당업 ) Region 2000 Census 2005-2007 ACS 2008-12 ACS U.S. 57,55573,80878,745 Cook County 621 1,165932 Chicago 574767646

7. Industry Code for Occupation: Personal Care ( 미용업 ) Region 2000 Census 2005-2007 ACS 2008-12 ACS U.S.15,757 17,92023,381 Cook County 131 187226 Chicago 4121111

8. Industry Code for Occupation: Dry clean and Laundry ( 세탁업 ) Region 2000 Census 2005-2007 ACS 2008-12 ACS U.S.27,481 28,26827,773 Cook County 1,6962,1521,439 Chicago554 235251

9. Labor Participation Rate (%) ( 노동시장 참여율 ) Region 2000 Census 2005-2007 ACS 2008-12 ACS U.S.59.01 59.1259.78 Cook County 64.3662.7761.90 Chicago52.75 59.2564.01

10. Unemployment Rate (%) ( 실업율 ) Region 2000 Census 2005-2007 ACS 2008-12 ACS U.S.5.55 5.347.24 Cook County 2.787.554.45 Chicago8.86 8.957.33

11. Poverty Level: 200%+ (4 인가족 기준 $48,500 이상 ) Region 2000 Census 2005-2007 ACS 2008-12 ACS U.S. 748,4811,013,0361,090,489 Cook County 18,261 20,93321,603 Chicago7,608 8,205 9,195

12. Poverty Level: 150% and Less (4 인 가족 기준 $30,312 이하 ) Region 2000 Census 2005-2007 ACS 2008-12 ACS U.S.240,632211,263245,799 Cook County 3,3213,5513,800 Chicago4,4542,8602,476

13. Housing Owner Ratio (%) ( 주택소유율 ) Region 2000 Census 2005-2007 ACS 2008-12 ACS U.S.40.02 49.2847.61 Cook County 61.99 72.7262.49 Chicago20.63 34.9932.26

14. Median House Price ($) ( 중간주택가격 ) Region 2000 Census 2005-2007 ACS 2008-12 ACS U.S.187,500 450,000370,000 Cook County 225,000 350,000300,000 Chicago225,000 350,000325,000

15. Conclusions Self-employment rate of Korean-Americans (KA) in the Chicago area is declining. Declining occupations = retails, restaurants, dry-cleaning, etc. Popular occupations = personal care, financial and professional services, etc. The gap between the poor and the rich KAs has grown. Home ownership declined; so did the price.