Affected by Chinese counterparts, Korean immigrants in the United States have gone from bad to worse.

In recent decades, Korean immigrants have dominated the US wig industry. However, with the entry of Chinese businessmen, the competition in the US wig market has become increasingly fierce. The Korean wig shop that once had a booming business is also struggling.

Hugo.com learned from the recent report of the US media "phillytrib" that Korean immigrants occupy an important place in the African-American wig market. There is relatively little competition in the wig market, and Korean immigrants have close ties with textile mills that produce wigs in Korea, which makes their advantage in the US market more obvious.

At first, Korean immigrants imported wigs from their home countries and soon monopolized the entire wig industry, including production, transportation, wholesale and retail. There are approximately 8,500 Korean-run beauty products stores on the US market, with annual sales estimated at $200 million, 70% of which are African-American.

Under the wave of globalization of various industries, the advantages of Korean immigrants in the wig market are gradually disappearing. Due to the sharp rise in labor costs in Korea, many wig producers have moved to China, where labor is cheaper. As a result, many Korean beauty products stores are no longer as prosperous as they used to be, and they are even struggling.

President of the Atlanta Korean beauty products Supply Association Il Hong Kim said: "Consumers need to start looking for cheaper prices of beauty products before, even some Korean beauty products shop opened in time of recession, can also get good sales performance, however. Now the situation is completely different. As the wig business becomes more and more global, many Chinese people enter the industry. Under this competitive condition, the sales of Korean immigrants are declining."

Kim added: "In addition, due to the global economic recession, the credit market is tightening, many Korean small businesses are facing more and more difficult loans, especially from the US banks to obtain loans is not easy. Coupled with language barriers, Korean companies Can only turn to Korean community bank loans."

South Korean immigrant Chung encountered this situation, and wanted to find a US bank loan, but later the problem of language communication was gone. In desperation, Chung turned to a Korean community bank in the town. Although the interest rate was higher than that of the Bank of America, the amount of loans that could be obtained was relatively small, but the language communication was unobstructed. He was satisfied with the smooth loan.

Korean wig shop owners are also facing another challenge: the recent wigs in expensive wigs have risen sharply. Such thefts are often committed by drivers and several passengers, breaking into Korean wig shops and stealing thousands of dollars worth of wigs, such as the price of up to $1,000, which almost puts the owner in a state of bankruptcy. At present, the owner of the Korean wig shop is seeking help from the local police in Atlanta, and some of the stolen goods have been recovered.