Recent studies on the residential patterns of Asian immigrants in Pacific Rim countries have revealed a new form of suburban ethnic settlements – ethnoburbs. The geographic distribution of Koreans in Auckland indicates that an ethnoburb‐like concentration has been developed in this small but rapidly increasing population group: Koreans are residentially clustered but not isolated from other population groups in an absolute sense. Interestingly, however, the economic structure of this ethnic community is somewhat different from that of ethnoburbs observed in North American cities. Statistical analysis of ethnic‐specific business directories demonstrates that the economic structure within the Korean residential clusters in Auckland is dependent on the state of their home country's economy. In this regard, Korean businesses are more like economic satellites rather than independent economic entities in the transnational market, as observed in other suburban ethnic settlements. The residential clustering of Koreans in Auckland is an important example of how suburban ethnic settlements can vary in terms of their economic structures. Copyright © 2013 John Wiley & Sons, Ltd.