The 138 students, 91 of whom were enrolled at primary schools, come from 80 families. It will bring the total number of Korean students in the Bay to about 350. Mrs Young said all 138 were committed, either through paying tuition fees, airfares or deposits on housing.
The students will bring $4.3 million to the economy during their time in the Bay.
"A lot of these students come in at primary school level. Now we're trying to make sure they stay, going on to intermediate, then college and into tertiary, rather than going somewhere else," said Mrs Young. "There's a lot of people who don't realise international education is our fifth-largest earner."
Education Tauranga is hosting more than 1100 international students, most from India and South Korea.
The new enrolments mean primary schools have almost reached their maximum number of Korean students. Education Tauranga schools have a policy of no more than one student from each country in each class.
Because of this, the organisation has signed on three more schools and is looking for more.
Deputy Mayor Kelvin Clout asked Mrs Young when capacity would be reached. "In the primary school sector, we will get there quite quickly because of the one student policy.
"We are looking at ways around that, such as one boy and one girl in a class, but at the moment we are still not prepared to look at that.
"I think we will get there in the next two years."
Bay of Plenty MP Todd Muller said Korea was a "vital partner" for the Bay.
"We are becoming more culturally diverse and the partnership is supporting growth in our local economy and jobs sector.
"I am delighted to see a growing vibrancy in our education sector in the Bay as more families abroad see the value of sending their children to our schools."
Tauranga Chamber of Commerce chief executive Stan Gregec said the high number of enrolments was "wonderful news".