The role of racial/ethnic discrimination in financial access and material hardship: Findings from Korean immigrants living in the deep south

This study examines how racial/ethnic discrimination influences financial access and material hardship, using survey data collected from self-identified Korean immigrants living in two counties in Alabama (N = 241). Key variables are experiencing racial/ethnic discrimination, two subjective measures of financial access, and four indicators of material hardship (overall, food-related, health insurance, and medical care). Descriptive analyses show a high rate of experiencing racial/ethnic discrimination, limited access to basic financial services and credit, and considerable rates of material hardship. Regression analyses indicate that experiencing discrimination has a significant association with access to credit but not with access to basic financial services. Access to credit has a significant and negative association with all types of material hardship. Our findings challenge the model minority myth of socially and economically integrated Asian/Korean immigrants. Results call for anti-discrimination policies and public efforts to expand financial access and reduce material hardship among Korean immigrants.