Overseas Koreans are emerging as valuable assets that can contribute to the revitalization of the global Korean business network. They have developed the Korean economy by acting as a mediating role between the home country and the residence country, not only in commerce but also in global society. As overseas Koreans have established and activated the Korean business global network, we should encourage Hansang to reenter the home country after their success in residence countries, then support them to grow as the global company. From the point of diaspora and transnational network, the Chinese and India had developed the business network and contributed to the economic development of the mother country. Many scholars have studied the role of the Chinese business, which played an important role in driving China’s rapid economic growth. However, there is a lack of research on Hansang and Hansang business. This study reviewed and summarized the literature accumulated over 10 years related to Hansang business. We explored the direction of the research topics in progress by examining the current status of the Chinese business. Also, we reviewed the status of Hansang business in Korea market and suggested the development strategy and future directions. We found some limitations of research topics and subjects, research theories, and research methodologies. Most of the researches are descriptive researches based on the secondary data. It is necessary to establish and share a database of participating companies in the hosting organization of the “World Korean Business Convention” to carry out the case and empirical studies. We suggest that the future academic research should explore the case studies, Hansang database based empirical studies, hopefully for developing the theory-based research to adapt the discipline of global socio-political-economic paradigm.