APR, a rising star in Korea’s beauty tech industry, has overtakenAmorepacificto become the country’s top cosmetics company by market capitalization, following its recent leap ahead ofLG Household & Health Care. The shift underscores the struggles of the traditional “Big Two” of K-beauty, while a new contender is rapidly gaining ground.

According to the Korea Exchange on the 6th, APR shares jumped₩27,200 (14.52%)to₩214,500as of 9:40 a.m., briefly touching an all-time high of₩220,000after announcing stronger-than-expected Q2 earnings. At current levels, APR’s market cap stands at approximately₩8.16 trillion.

Founded in 2014, APR owns beauty brands such asAprilskinandForment, as well asMediCube, a fast-growing home beauty device brand. Robust exports to the U.S., Europe, and the Middle East have driven its sharp earnings growth. To strengthen its global push, APR recently tappedIVE’s Jang Won-youngas the new face of its MediCube Age-R brand, following actress Kim Hee-sun.

APR went public on February 27, 2023, debuting at₩317,500 per share, a 27% jump from its IPO price of ₩250,000. At the time, its market cap stood at₩2.41 trillion.

On June 23 this year, APR’s market value surpassed LG Household & Health Care for the first time, securing the No. 2 spot in Korea’s cosmetics industry. As of the previous day, APR’s market cap was₩7.13 trillion, compared to LG H&H’s₩4.59 trillion, a gap of more than ₩2.5 trillion. With its latest surge, APR has now overtaken Amorepacific as well, achieving the top spot in K-beauty just 17 months after its listing.