Korean Beauty Upstart Set to Top Industry Giant's Market Value
Shares of APR Corp. soared as much as 20% on Wednesday, and have more than quadrupled this year, fueled by strong overseas demand for its cosmetics that pushed its market value to nearly 8 trillion won ($5.8 billion). It's poised to overtake the market capitalization of the nation's No. 1 cosmetics brand Amorepacific Corp., and is closing in on Japan's Shiseido Co.
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