The Wig Business Of Korean Immigrants In America Has Gone From Bad To Worse.

In recent decades,

Emigration has always dominated the wig industry in the United States.

However, with the entry of Chinese businessmen, the market for wigs in the United States is becoming more and more competitive.

Recent reports show that Korean immigrants occupy an important place in the African American wig market.

There are relatively few competition in the wig market. Korean immigrants and South Korea produce wigs.

There is a close connection, which makes them more obvious in the US market.

At first, Korean immigrants imported wigs from their motherland and soon monopolized the whole country.

It includes production, pportation, wholesale and retail sectors.

There are about 8500 Korean beauty products stores in the US market. The total annual sales volume is estimated at $200 million, of which 70% of the customers are African Americans.

Under the wave of globalization of industries, the advantage of Korean immigrants in the wig market is gradually disappearing.

Because of the sharp rise in labour costs in Korea, many wig manufacturers are moving to cheaper labor in China.

As a result, many Korean beauty products shops can no longer be as prosperous as they used to be, or even struggling.

"Consumers are beginning to look for cheaper products," said Il Hong Kim, chairman of the Korea beauty products supply association, Atlanta.

In the past, some Korean beauty products shops could get good sales results even when they were opening up during the recession.

But now the situation is completely different. As wigs are becoming more and more globalized, many Chinese are entering the industry. Under such competitive conditions, the sales volume of Korean immigrants is declining.

Kim added: "in addition, because of the global recession and the tight credit market, many Korean small businesses are facing increasingly difficult loans, especially obtaining loans from banks in the United States.

Coupled with language barrier, Korean enterprises can only turn to Korean community bank loans.

Chung, a Korean immigrant, had suffered from this situation. He wanted to find a bank loan from the United States, but later the problem of language communication ended.

In desperation, Chung turned to a Korean community bank in the town. Although the interest was higher than that of the Bank of America, the amount of loans available was relatively small, but there was no barrier to language communication, and he was satisfied with the smooth access to the loan.

South Korean wig owners face another challenge: the recent sharp increase in the theft of expensive wig in a wig shop.

Such burglary is often committed by drivers and several passengers, breaking into the South Korean wig shop and robbery of thousands of dollars worth of wig, such as a barge with a price of up to 1000 dollars, which almost bankrupts shopkeepers.

At present, the South Korean wig shop owner is seeking help from local police in Atlanta, and some stolen goods have been recovered.