Gangnam Spice in Jamaica Plain Grows with $75,000 Microloan

Gangnam Spice, a woman and minority-owned Korean food business founded by husband-and-wife team Richard Kim and Jiyeon Lee, has grown from a specialty sauce company into a thriving catering operation, food truck, and brick-and-mortar restaurant in Jamaica Plain.

After participating in Commonwealth Kitchen’s shared commercial kitchen program, the business opened its first permanent location.To support this next phase of growth, MassDevelopment provided a $75,000 microloan to refinance existing debt and help fund the hiring of new employees.

Gangnam Spice reflects the type of small business growth MassDevelopment aims to support — helping entrepreneurs expand operations, create jobs, and establish lasting roots in their communities.