In a significant development within South Korea's beauty tech scene, APR has surpassed the long-standing giant Amorepacific to hold the title of the nation's largest cosmetics company by market capitalization. This change highlights the challenges faced by the traditional leaders of K-beauty, Amorepacific and LG Household & Health Care, as APR emerges as a formidable competitor.

As reported by the Korea Exchange on the 6th, APR's stock value surged by ₩27,200, marking a 14.52% increase to reach ₩214,500 at 9:40 a.m. This leap was fueled by better-than-anticipated earnings in the second quarter. Notably, the stock briefly hit an unprecedented high of ₩220,000. This performance elevates APR's market capitalization to about ₩8.16 trillion.

Established in 2014, APR owns several beauty brands, including Aprilskin and Forment, along with MediCube, which is rapidly expanding in the home beauty device sector. The company's impressive revenue growth is largely driven by strong exports to markets in the U.S., Europe, and the Middle East. In an effort to reinforce its global presence, APR has recently appointed Jang Won-young from the group IVE as the new ambassador for its MediCube Age-R brand, succeeding actress Kim Hee-sun.

APR's public offering on February 27, 2023, saw its shares debut at ₩317,500 each, reflecting a 27% rise from its initial public offering price of ₩250,000. At that point, its market capitalization was valued at ₩2.41 trillion.

On June 23 of the current year, APR's market capitalization surpassed that of LG Household & Health Care for the first time, securing the second position in Korea's cosmetics industry. As of the previous day, APR's market capitalization was recorded at ₩7.13 trillion, compared to LG H&H's ₩4.59 trillion, demonstrating a difference of over ₩2.5 trillion. With its latest gains, APR has now also overtaken Amorepacific, claiming the number one spot in the K-beauty industry just 17 months after becoming a publicly listed company.