In a significant development within South Korea's beauty technology sector, APR has surpassed Amorepacific to become the leading cosmetics company in terms of market capitalization. This shift highlights the challenges faced by the traditional industry leaders, famously known as the “Big Two” of K-beauty, as APR emerges as a formidable new competitor. Notably, APR's recent ascent also saw it overtake LG Household & Health Care.

Data from the Korea Exchange on the 6th reveals that APR's stock price surged by ₩27,200, marking a 14.52% increase to reach ₩214,500 by 9:40 a.m. Following the announcement of better-than-expected second-quarter earnings, the shares touched a record high of ₩220,000. At this valuation, APR's market capitalization is approximately ₩8.16 trillion.

Established in 2014, APR's portfolio includes beauty brands like Aprilskin and Forment, alongside MediCube, a rapidly expanding home beauty device brand. The company's impressive revenue growth is largely attributed to robust exports to key markets in the U.S., Europe, and the Middle East. To bolster its global marketing strategy, APR has enlisted IVE’s Jang Won-young as the new ambassador for its MediCube Age-R brand, succeeding actress Kim Hee-sun.

APR's initial public offering occurred on February 27, 2023, with shares opening at ₩317,500, reflecting a 27% increase from the IPO price of ₩250,000. At that juncture, APR's market capitalization was calculated at ₩2.41 trillion.

On June 23 of this year, APR's market valuation overtook that of LG Household & Health Care for the first time, securing the second position in Korea’s cosmetics market. As of the previous day, APR’s market capitalization was ₩7.13 trillion, surpassing LG H&H's ₩4.59 trillion by over ₩2.5 trillion. With the latest stock price surge, APR has also overtaken Amorepacific, claiming the top position in K-beauty just 17 months after its market debut.