APR, an emerging force in Korea’s beauty tech sector, has surpassed Amorepacific to claim the position of the leading cosmetics company in terms of market capitalization. This achievement follows its earlier advancement over LG Household & Health Care. This development highlights the challenges faced by the traditional leaders in the K-beauty sector, as a new competitor rises rapidly.

As reported by the Korea Exchange on the 6th, shares of APR experienced a significant rise of ₩27,200 (14.52%), reaching ₩214,500 by 9:40 a.m., and briefly hitting a record peak of ₩220,000 after the announcement of unexpectedly strong second-quarter earnings. At these levels, the market capitalization of APR is approximately ₩8.16 trillion.

Founded in 2014, APR is the proprietor of beauty brands like Aprilskin and Forment, along with MediCube, a swiftly expanding home beauty device brand. Its substantial earnings growth has been propelled by strong exports to regions such as the U.S., Europe, and the Middle East. To bolster its international endeavors, APR recently appointed IVE’s Jang Won-young as the new ambassador for its MediCube Age-R brand, succeeding actress Kim Hee-sun.

APR made its public market debut on February 27, 2023, with shares opening at ₩317,500 each, marking a 27% increase from its Initial Public Offering (IPO) price of ₩250,000. At that time, its market capitalization was ₩2.41 trillion.

On June 23 of this year, APR's market valuation surpassed that of LG Household & Health Care for the first time, securing the second position in Korea’s cosmetics industry. As of the day before, APR's market capitalization was ₩7.13 trillion, in contrast to LG H&H's ₩4.59 trillion, reflecting a difference exceeding ₩2.5 trillion. With the latest increase, APR has now outpaced Amorepacific as well, securing the number one position in K-beauty just 17 months after its stock market entry.