Latest news with #Asian-owned
Miami Herald
10-07-2025
- Business
- Miami Herald
Two beloved local businesses close forever, jeopardizing a town
Anyone who has lived in one of America's larger cities has probably experienced an ethnic neighborhood like Chinatown in San Francisco (or New York or Washington, D.C.), Little Italy in New York, or Polish Downtown in Chicago. Enclaves like these were historically places where immigrants could find social networks and the comforts of their homeland - from food to houses of worship - while also preserving and celebrating culture. Don't miss the move: Subscribe to TheStreet's free daily newsletter These ethnic neighborhoods also helped refugees and immigrants find jobs, according to a 2019 Stanford study. Chinatowns formed for a uniquely compelling reason: Well into the 20th century, Chinese immigrants were excluded from the rest of society thanks to the Chinese Exclusion Act (repealed in 1943), and they responded by building their own mini-cities within major metropolises. Today, there are at least 50 Chinatowns across the country. They stand as symbols of resilience - and also as reminders of how immigrants were forced to adapt in the face of hostility in the U.S. Now, Chinatowns are shrinking across the country, and the city with the biggest risk of losing its special enclave altogether is the nation's capital. Image source:For decades, Full Kee Restaurant and Gao Ya Hair Salon stood as quiet fixtures in Washington, D.C.'s Chinatown. This month, both closed for good, casualties of the city's relentless redevelopment boom. In early July, the two legacy businesses shuttered to make way for a $75 million Marriott Tribute Hotel. Their exit leaves D.C.'s once-thriving Chinatown with just a handful of remaining Asian-owned storefronts. Activists now warn that the neighborhood's cultural identity is hanging by a thread. Related: Beloved local family restaurant closing after nearly 63 years "It's like watching a museum get dismantled in real time," said one longtime customer, reacting to the closures in a report on Washington, D.C.'s Fox5. The businesses weren't flashy. Full Kee served Cantonese comfort food in an unassuming dining room. Gao Ya Hair Salon quietly welcomed generations of Chinese American women. In a neighborhood that has already lost its Chinese grocery store, bakery, and most of its restaurants, their closures feel like a tipping point. D.C.'s Chinatown has been steadily shrinking for decades. Once home to thousands of Chinese American residents and dozens of Chinese-owned businesses, the area saw a sharp decline starting in the 1990s as rising rents and new developments, including the nearby Capital One Arena, changed the economic landscape. By 2020, fewer than 300 Chinese Americans lived in the neighborhood. Today, only a handful of Chinese businesses remain. Many storefronts now feature national chains like Chipotle, CVS, and Shake Shack, beneath awnings still printed with Mandarin characters. Related: One of Texas's oldest BBQ joints is closing permanently after 34 years Earlier this year, Jackey Café closed its doors after struggling through the pandemic. Tony Cheng's Seafood, another landmark restaurant, was shuttered by city officials in March due to unpaid taxes totaling over $500,000. The owners blamed lost revenue from the pandemic, rising costs, and delayed tourism recovery. The wave of closures in D.C.'s Chinatown is a microcosm of what's happening in similar cultural districts nationwide. Between post‑pandemic fragility, inflation, real‑estate pressures, and tariff‑driven cost spikes, ethnic enclaves are in crisis. Supporters say that without targeted economic, cultural, and legislative interventions, they could disappear from the urban fabric, erasing chapters of immigrant America. "It's not just about a restaurant and a hair salon, it's about community and institutions that serve the community and the remaining residents in Chinatown," Cassie He, a member of the Save Chinatown Solidarity Network, told Fox5. Related: Beloved local family diner closing after nearly 40 years The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Associated Press
02-07-2025
- Business
- Associated Press
Universal Processing Celebrates Grand Opening of New Headquarters, Reinforcing Commitment to Empowering Underserved Businesses
New York, New York--(Newsfile Corp. - July 2, 2025) - Universal Processing (uP), a leading financial technology company dedicated to empowering underserved businesses across America, is looking towards the future after a star-studded grand opening of its Times Square headquarters. The theme of the night was 'Brick by Brick', a celebration of the people and partnerships that have shaped the company's journey. uP was proud to host many of the people who have been integral to the company's success, and were honored that some of New York's most well-known and influential politicians stopped by the event to make speeches. [ This image cannot be displayed. Please visit the source: ] Image 1 To view an enhanced version of this graphic, please visit: Former Governor George Pataki had this to say about uP's contributions during the COVID-19 pandemic: 'I want to thank Universal Processing, because without what you did during that terrible time, many of the businesses that New York counts on wouldn't be here today.' It was an honor for uP to be recognized by the former governor, as during the pandemic - when Asian-owned businesses across the city were hit hardest - uP stepped in as a lifeline. The company offered multilingual support, financial relief, PPE, and digital tools to help stabilize their communities. [ This image cannot be displayed. Please visit the source: ] Image 2 To view an enhanced version of this graphic, please visit: Former Governor David Patterson also stopped by to applaud uP founder and CEO, Saint Hung: 'For the leadership and all that you have done, for the efforts you waged, and your expansion of concepts that I think is bringing more business to the area and to areas around here…you've done a marvelous job and we look forward to bigger and better things.' [ This image cannot be displayed. Please visit the source: ] Image 3 To view an enhanced version of this graphic, please visit: New York State Senator Stephen Chan crafted a powerful metaphor for Hung's leadership of the company: 'Everybody here is a cog in this timepiece and everybody must be in their place and work in order for our community, our society, our city to tick,' said Mr. Chan. 'Saint is the driving force in that timepiece. He is the conductor of this symphony, and if everybody plays their part correctly, that's what is going to make it sound good. That's what is going to make it beautiful.' 'Saint Hung is committed to growing small and medium-sized businesses in New York,' said Chairman of the New York State Republican Party, Ed Cox. 'These new headquarters in New York City are about the growth of Universal Processing and about Mr. Hung's and Universal Processing's commitment to New York City. Thank you Mr. Hung.' In a surprise move, New York State Assemblymember Lester Chang awarded Universal Processing with a New York State Assembly Citation. 'I applaud you because you had the foresight, vision, and optimism to create this business,' said Assemblymember Chang. 'Writing a citation for me is easy, but earning a citation is the real work.' [ This image cannot be displayed. Please visit the source: ] Image 4 To view an enhanced version of this graphic, please visit: 'We know in New York State that it's the small businesses that are the economic engine that drive this great state,' said New York State Assemblymember Al Taylor, 'so thank you for investing, thank you for being a risk taker.' As uP continues to be recognized for its achievements in the fintech space and expand its service offerings, the company remains focused on its mission to democratize access to fintech solutions, helping more businesses move 'uP'. The new headquarters in Times Square marks a significant milestone in this journey, providing a platform for continued growth and impact. It is also particularly meaningful to founder and CEO Saint Hung, whose father - an architect - worked on Philip Johnson's Times Square Redevelopment Project in 1989. 'For me to come back here and stake my claim to Times Square, it's been an effort 36 years in the making,' said Hung. For media inquiries, event details, or partnership opportunities, please contact: Yin Yu uP PR Team [email protected] About Universal Processing Universal Processing is an award-winning fintech and payment solutions provider, specializing in serving underserved businesses and partner channels with full-service payment processing. As a certified Minority-Owned Business, uP is committed to providing transparent, secure, and scalable payment solutions with 24/7 multilingual support. Learn more at To view the source version of this press release, please visit
New York Post
27-06-2025
- Business
- New York Post
NYC biz owner honored for supporting 35K Asian-American-owned small companies during COVID pandemic
A Big Apple business owner was honored Thursday night for his role in supporting and stabilizing more than 35,000 Asian American-owned companies during the COVID-19 pandemic. Saint Hung, CEO of Universal Processing, and his team were recognized by about 200 government officials and community leaders for providing protective gear, financial guidance, digital tools and multilingual resources to struggling small businesses at the height of the deadly crisis. 'Saint helped us so much,' restaurateur Katrina Liu, 35, told The Post at the event, noting that Hung's guidance enabled her to open a third and fourth restaurant in the aftermath of the outbreak. 3 Saint Hung, CEO of Universal Processing, a financial tech company in New York City. Marie Pohl for New York Post 'He hosted a lot of Zoom meetings and helped us apply for loans, grants and showed us how to do marketing during the pandemic. He also gave us point-of-sale systems for free.' Michael Min, owner of South of the Clouds rice noodle restaurant in the West Village, said Hung's resources were a 'huge, huge help.' 'A restaurant owner doesn't understand that much, you know, like with these applications, what to you say, what not to say, that's a huge thing, basically,' the 36-year-old explained. 'So you needed a professional company who'll work with the government to help you navigate through those things.' 3 Saint Hung pictured with his team and former Republican Gov. George Pataki. Marie Pohl for New York Post Asian-owned establishments nationwide suffered plummeting sales of as much as 60% during the initial wave of lockdowns in 2020, with entrepreneurs also struggling to access government aid, such as the Paycheck Protection Program, meant to keep them afloat, according to reports. Hung expressed gratitude for the 'social safety net' that allowed his thriving financial tech company to not only support local businesses in need but also open a new Manhattan office, where the celebratory event was held. 3 Former Gov. George Pataki and Saint Hung in conversation during the event. Marie Pohl for New York Post 'If not for the ability for us to navigate through those first months of COVID, we probably wouldn't be able to flourish and grow and expand and definitely wouldn't be able to provide services and help to the 35,000 and more in the future, small businesses that we are fortunate to provide support for today,' he said. 'I just feel like small business owners have to navigate so much uncertainty, and even our role was uncertain a few years back. 'We provided a lifeline for many businesses.'
30-05-2025
- Business
Shop Asian-owned businesses to celebrate AAPI Heritage Month
'GMA' lifestyle contributor Lori Bergamotto and ABC News' Ashan Singh highlight products from Asian-owned businesses.
Yahoo
27-05-2025
- Business
- Yahoo
Manhattan school club aims to raise $2,000 for Yu and Me Books after fire damage
Editor's note: The video above aired in a previous newscast. NEW YORK (PIX11) — A Manhattan high school club is raising funds to support a rebuilt local bookstore after a fire devastated it. Students aim to raise $2,000 to benefit Yu and Me Books. More Local News Members of the Asian American and Pacific Islander community at the High School of Art and Design have created 'Have You Eaten Yet?' A 28-page collection of food stories that illustrate the connection between food, history, and the experiences of the AAPI community. Proceeds will support Yu & Me Books, NYC's only Asian-owned bookstore dedicated to elevating AAPI voices. Art and Design High School PTA Inc New Yorkers who want to support young artists can make purchases on Wednesday from 3 to 5 p.m. at an event at the High School of Art and Design, located on East 56th Street. You can also make a donation to the club by clicking here. Matthew Euzarraga is a multimedia journalist from El Paso, Texas. He has covered local news and LGBTQIA topics in the New York City Metro area since 2021. He joined the PIX11 Digital team in 2023. You can see more of his work here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
