Word: korean
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Dates: during 1980-1989
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...York. With loans ranging from a few hundred dollars to $20,000 or more, Vietnamese hui (associations) in Texas played a crucial role in reviving the moribund shrimping industry in the Gulf of Mexico by financing the purchase of dozens of boats. An estimated $10 million in Korean keh (contracts) has financed the purchase of houses, restaurants and small grocery stores in the San Francisco Bay Area. "This is Horatio Alger all over," says David W. Engstrom, a research associate at the University of Chicago who studies immigrant merchants. Thanks to loan clubs, he adds, "most of these people open...
...study of 50 people in Mexican and Mexican-American tandas (turns), Carlos Velez-Ibanez, an anthropologist at the University of Arizona, found that 17% cited family obligations such as weddings, baptisms and funerals as reasons for their participation. Each gathering of a keh, notes Sungsoo Kim, president of the Korean-American Small Business Center of New York, is a "great party with food and drinks and everything." Says Aurora Lares, who owns a Mexican restaurant with her brother in Santa Monica: "A tanda is for helping people and for making good friends...
...tanda or keh can be successful without a great deal of trust. Individual members may not be acquainted with one another, but they must all know and believe in the organizer, called a keh-ju in Korean or a chu-hui in Vietnamese. She covers any defaults. As compensation, the first pool is traditionally hers; in a bidding club, she receives it interest-free. Even so, the organizer benefits from strong community ties. When a new Chinese immigrant asks to join a hui, for example, "it does not take much effort to establish his life history," says Tom Tai, director...
...Video's machine (price: $700) would be the only such VCR on the market. But the company claims its plan has been thwarted by a conspiracy of Japanese and South Korean electronics giants, which have refused to sell the company VCR parts it needs. Go-Video also blames Hollywood studios, which regard dual- deck machines as tools for pirating movies and which have allegedly pressured foreign VCR-makers to keep them off the market. Go-Video has named dozens of film and electronics companies in a lawsuit that is expected to go to trial next year. The firm hopes...
...tongue-tied denial may be rooted in the way the destruction of Flight 655 brutally conflicts with the nation's self-image. Americans do not see themselves as trigger-happy gunslingers; that black-hat role was played by the Soviet Union in 1983 when it brazenly shot down a Korean airliner. Terrorists are supposed to be the ones who cause death in the air -- not the nation upholding the civilized rights of free passage in the Persian Gulf...