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According to [[Katharine Moon]], [[1997 Asian financial crisis|the Asian financial crisis in 1997]] is one of the events that shaped Korean's dominant attitude towards immigrants and foreigners. In the 1997 crisis, the [[International Monetary Fund|IMF]] forced South Korea to take a bailout and the adverse effect it had on Korean's economy caused the closings of financial institutions, losing jobs for 5% of workers and decreased earnings for the majority of the population.<ref name="Bloomberg.com">{{Cite news|date=2016-03-11|title=Why South Korean Businesses Can Legally Refuse to Serve Foreigners|language=en|work=Bloomberg.com|url=https://www.bloomberg.com/news/articles/2016-03-11/lack-of-anti-discrimination-laws-in-south-korea-means-businesses-can-legally-refuse-to-serve-foreigners|access-date=2020-12-01}}</ref>
===Attitudes against different races and groups ===
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Related discrimination has also been reported with regard to mixed-race children, [[Koreans in China|Chinese Korean]], and [[North Korea]]n immigrants.<ref name=Campbell/> Many have observed that this is due to a favoritism toward white people, and is presumed that this stems from ideas about racial hierarchy absorbed from US military forces stationed in the country.<ref>{{Cite journal|last=Ko|first=Jun-tae|date=2021|title=[Us and Them] The whiter the better: Korea's racist hierarchy|url=https://www.koreaherald.com/view.php?ud=20210927000766|journal=The Korea Heral}}</ref>
Racism and discrimination against South Asians from Koreans are also common, and have led to incidents such as clubs banning South Asians.<ref>{{Cite journal|last=Ock|first=Hyun-ju|date=2017|title=Itaewon bar accused of discriminating against Indian|url=https://www.koreaherald.com/view.php?ud=20170607000796|journal=The Korea Herald}}</ref> Muslims also encounter racism and prejudice from a significant segment of Korean society, which is further complicated due to the foreign or immigrant background of many Muslims living in Korea. It was observed that many Koreans perceive Muslims as a potential "terrorist group", with these negative views stemming from the rising prevalence of Islamophobia in Korea and elsewhere in Asia, along with stereotypical representations of Muslims and Islam in Korean media.<ref>{{Cite journal|last=Koo|first=Gi Yeon|date=2018|title=Islamophobia and the Politics of Representation of Islam in Korea|url=http://dx.doi.org/10.1353/jkr.2018.0006|journal=Journal of Korean Religions|volume=9|issue=1|pages=159–192|doi=10.1353/jkr.2018.0006|s2cid=158772593|issn=2167-2040|via=[[JSTOR]]}}</ref>
▲Due to the lack of an anti-discrimination law, it is common for people not of Korean ethnicity to be denied service at clubs or in taxis without consequences.<ref>{{Cite news|last=옥현주 |date=2016-02-21 |title=[From the scene] Korean-only bars trigger controversy |url=https://www.koreaherald.com/view.php?ud=20160221000207 |access-date=2023-04-15 |website=[[The Korea Herald]] |language=en}}</ref><ref name=d1>{{cite news|url=http://thediplomat.com/2016/03/the-south-korean-businesses-that-ban-foreigners/|title=The South Korean Businesses That Ban Foreigners|date=1 March 2016|last=John Power|work=The Diplomat|accessdate=9 January 2018}}</ref><ref name=":0" /><ref name=":1" />
=== COVID-19 pandemic ===
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