Unveiling Success Factors: Nepalese Migrant Entrepreneurship in South Korea’s Service Sectors Through the Lens of Migrant Entrepreneurship Theory Perspectives

Purpose - This study examines the success factors of Nepalese migrant entrepreneurs in South Korea’s service sector and analyzes how their experiences align with key migrant entrepreneurship theories. This study identifies the core elements that contribute to the growth and sustainability of businesses and offers insights into their strategies. Design/Methodology/Approach - This study adopts a case study approach that focuses on three businesses: Everest Group Korea, Maya Mart, and Migrant Total Consultancy (MTC). Multiple theoretical perspectives, including the iron cage, cultural, neoclassical, and institutional theories, are integrated to assess the elements contributing to the success of these businesses. Semi-structured interviews were conducted several times to gain deeper insight into their experiences and strategies. Findings - This study reveals that the success of Nepalese migrant entrepreneurs is driven by more than necessity, encompassing strategic decision-making, effective resource management, and leveraging cultural and institutional assets. Critical factors include ethnocultural networks, sound financial management, and educational background. Institutional support, adaptability to market shifts, and the ability to integrate cultural identity with local business practices also play significant roles in sustaining migrant entrepreneurial success. Research Implications - This study underscores the need for a comprehensive approach to understanding migrant entrepreneurship, highlighting the interaction of cultural, financial, managerial, psychobehavioral, and institutional factors. These findings provide valuable insights for policymakers and researchers for enhancing migrant entrepreneurship. By integrating diverse theoretical perspectives, this study offers a framework for effective strategies and policies to support migrant entrepreneurs’ growth and sustainability.