APR, a key player in Korea’s beauty tech sector, has surpassed Amorepacific, becoming the leading cosmetics company by market capitalization. This change highlights the challenges faced by the traditional "Big Two" in K-beauty as new competitors emerge.

On the 6th, the Korea Exchange reported APR shares surged₩27,200 (14.52%) to₩214,500 at 9:40 a.m., peaking at₩220,000 due to unexpected strong Q2 earnings. APR’s market value is now around₩8.16 trillion.

Established in 2014, APR owns brands like Aprilskin, Forment, and the rapidly growing MediCube. Strong exports to markets in the U.S., Europe, and the Middle East have fueled earnings growth. To enhance its global reach, APR recently appointed IVE’s Jang Won-young as the new ambassador for MediCube Age-R, following actress Kim Hee-sun.

APR went public on February 27, 2023, with shares opening at₩317,500, a 27% increase from the IPO price of ₩250,000, giving it a market cap of₩2.41 trillion.

On June 23, APR’s market value exceeded LG Household & Health Care for the first time, taking the No. 2 position in Korea’s cosmetics industry. As of the previous day, APR’s market cap was₩7.13 trillion, surpassing LG H&H’s₩4.59 trillion by over ₩2.5 trillion. With recent growth, APR has overtaken Amorepacific, becoming the top player in K-beauty just 17 months post-listing.