SEOUL, May 14 (Korea Bizwire) — Young Koreans in their twenties and thirties are increasingly losing their hair, leading to a boom in the Korean hair-loss industry.
Hi-MO, Korea’s largest wig company, said on May 13 that 27 percent and 4 percent of its male customers in 2014 were in their thirties and twenties respectively. Hi-Mo’s male customers in their forties and fifties stood at 32 percent and 63 percent respectively.
Hi-Mo explained that genes, surgery aftereffects and excessive stress could be contributing factors to hair loss among young adults.
Korean women are also more prone to hair loss these days, as 15 percent of Hi-Mo’s customers were female.
As hair loss is becoming a problem regardless of gender and age, sales in the Korean hair-loss industry have jumped 10 fold to 4 trillion won (US$ 3.65 billion) in 2012 from 400 billion won (US$ 365.06 million) in 2004.
A Hi-Mo representative said that the company has mostly been consulting men in their thirties and forties, as they need the most meticulous care since they are in the beginning stages of hair loss. However, the company even counts teens and women among its customers.
By J. W. Choi (email@example.com)