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JUNE 2021 NEWSLETTER

7 Facts about the Arkansas-Asia Community


1. Asian population in Arkansas (2019): 46,078, about 1.5% of the total population of Arkansas, with Sebastian (4.7%), Benton (4.1%) and Scott (3.3%) counties having the highest percentage of the Asian population. Source

2. Asian median household income in Arkansas (2019): $71,716, highest among all race groups. Source

3. Foreign-born Asians in Arkansas (2019): 35,176, which is about 22.8% of all foreign-born population in Arkansas. Source

4. Arkansas import and export with Asia (2020): 
  • Import: China is the #1 import country to Arkansas, taking 36.6% import share. Other Asian countries that are in the top 10 list are Vietnam #5, Cambodia #7, India #8, Indonesia #9, and Japan #10. Source
  • Export: China is the #4 export destination from Arkansas, following Canada, Mexico, and France. Japan is #6, as the other Asian country in the top 10. Source
5. Asian-owned Businesses in Arkansas (2012): 1,524 with paid employees (32.6%) and 3,156 (67.4%) without paid employees (such as family-owned with contractor workers). The top three sectors of Asian owned businesses are: Other Services (except Public Administration), accommodation and food services and retail trade. Source
6. Foreign-owned Companies in Arkansas (2020): Among all counties, Japan owns the highest number of foreign-owned companies in Arkansas, with a total of 46, and it also has the most employee count of 6,093. Source

7. The first Arkansas-Asia chamber of commerce (2020): The Arkansas Association of Asian Businesses (AAAB) is the first and only Arkansas-Asia chamber of commerce in the Natural State. Founded in 2017, it currently has 60+ paying members, ranging from companies and professionals to students in Arkansas. Souce
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AAAB ACTIVITIES

Past event: Arkansas-Asia Briefing Q2 2021 
The AAAB hosted the Arkansas-Asia Briefing Q2 event at 8 am CT on June 17th. The event featured two speakers' for timely topics concerning the Arkansas-Asia business community: 1) Al Baker of Jonesboro, the general manager of Aim High Corporate, on the "Disrupted US-China Supply Chain", and 2) Ameen Pabani, the president of One Stop Solution Accounting and My Flag Insurance companies, on "Helping Asian-owned Small Businesses in Arkansas During the Pandemic." The event also provided an opportunity for attendees to do self-intro. Event recording can be accessed (passcode: AAB_Q22021) here

AAAB MEMBER SPOTLIGHT

Image above: Mary (center) with Japanese colleagues

Mary Zunick
Membership Type: Individual Member

Hot Springs has had a Sister City relationship with Hanamaki, Japan since 1993, as the Sister City Program Director for Hot Springs, Mary Zunick coordinates all facets of the sister city exchange program which includes educational, cultural, tourism, and business exchange, as well as community outreach to share information about Japanese culture. Mary is also the Cultural Affairs Manager for Visit Hot Springs
Image above: Mary (front row center) at a conference with Japanese colleagues

"The world we live in shrinks each day thanks to technology and in daily life more and more people interact with people in other countries in business as well as personally. This, paired with immigration and our increasingly diverse population, is why it is vital for us to understand and encourage appreciation of other cultures," Mary says. Mary was appointed Honorary Consul of Japan for Arkansas by the Japanese Ministry of Foreign Affairs in 2018.

You can connect with Mary with her Linkedin.
Want your work to be spotlighted?
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IN THE NATURAL STATE

UAMS Researcher Gets $3.5M for Cancer Trial - Arkansas Business 
Dr. Hui-Ming Chang at the University of Arkansas for Medical Sciences has been awarded a five-year, $3.5 million National Institutes of Health grant to study how dexrazoxane can protect the heart without hampering doxorubicin's ability to fight cancer. Preventing heart damage is especially important for the long-term survival of cancer patients, breast cancer patients in particular, according to a news release. Learn more

AROUND THE WORLD

What the G-7 Summit in Cornwall Means for Asia - The Diplomat
Joe Biden set clear goals for his first trip abroad as U.S. president: He promised to use his week-long trip to Europe to strengthen alliances and “make it clear to Putin and to China that Europe and the U.S. are tight.”
His meetings began in the United Kingdom with friendly talks with his British hosts, as well as some colorful photo sessions with Prime Minister Boris Johnson and his new wife Carrie. Johnson said that the U.K. and the U.S. have an “indestructible relationship.” Learn more
Ninja Van partners with convenience store chain to expand in the Philippines - Tech in Asia
Singapore-based logistics startup Ninja Van announced it has partnered with Ministop, a Philippines-based convenience store chain, in a bid to expand its retail footprint in newer markets. Under the partnership, customers can visit any partner Ministop branch to send items anywhere in the Philippines. The deal will allow Ninja Van Philippines to offer its shipping services in over 50 Ministop branches in Metro Manila, the country’s national capital region. Learn more
S.Korea retailer E-Mart buys eBay's S.Korean business for $3 billion - Reuters
South Korean retailer Shinsegae Group's E-Mart Inc (139480.KS) said on June 24 that it plans to acquire an 80% stake in eBay Inc's (EBAY.O) South Korean business for 3.4 trillion won ($3 billion). With the deal, traditional retail giant Shinsegae gets a much-needed boost in the Korean e-commerce sector, while eBay Korea gains a powerful backer after years of underperforming, analysts said. EBay will retain a 20% interest in the Korean business, whose implied value is approximately $3.8 billion, eBay said in a statement. Learn more
Elon Musk's 'Baby Shark' tweet sends shares of Samsung Publishing soaring - Business Standard
Samsung Publishing Co., the second largest shareholder in the producer of the “Baby Shark” viral YouTube song, surged to its highest level in more than a month after Elon Musk tweeted about the kiddie pop jingle. Shares in the Seoul-based company that owns 19.43% in the song’s producer SmartStudy Co. climbed as much as 10%. The gains have helped the stock more than quadruple since the end of 2018 as the song became popular.  Learn more

ANYTHING ASIA

Vimeo CEO Anjali Sud Becomes The First South Asian Woman To Take Her Company Public On NASDAQ - ANOKHI LIFE
Vimeo, the popular online video platform for creators which went public on NASDAQ in May is led by 37-year old CEO Anjali Sud, making her the first female South Asian CEO to take her company public. Learn more
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The AAAB mission
  1. To support the professional growth of those Arkansans of Asian descent and to promote Asian-owned businesses in Arkansas;
  2. To provide assistance to Arkansas companies looking to explore Asian markets;
  3. To provide resources for companies and professionals from Asian countries looking to explore business opportunities with Arkansas;
  4. Overall, to be an advocate for entrepreneurship that is related to Arkansas and Asia.
AAAB Board of Directors
Boon Tan | Katie Thompson |
| Young Chun |  Yang Luo-Branch | William "Goose" Changose |  Mark Young |  Ameen Pabani
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Copyright © 2021 Arkansas Association of Asian Businesses (AAAB), All rights reserved.


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