Social Work Research Forum: Korean Immigrants and Private Money Clubs

Kye, a common Korean name for mutual financial aid and saving associations, is an esoteric saving practice among Korean immigrants. Even though it has been identified as an effective asset-building system, operational details about the cultural practice are scantily available in the literature. Ten in-depth interviews with Kye leaders and a public attorney were conducted in 3 eastern states to fill the gap in the body of knowledge and explore it as an alternative asset building vehicle. This presentation reports operational details of their Kye, divulged by Kye leaders. Findings empirically support Kye as an asset-being tool. It also works as a strong life-coaching self-support group. Participants will be invited to assess it as a potential developmental anti-poverty program for a wider American society and may gain enough knowledge to develop their own Kye.

Location: 1911 Building Room 129