South Korean beauty startup APR surpasses industry leader in market value.

South Korean startup company APR Corp., which specializes in home beauty devices, surged 11% on Wednesday, hitting a historic high in stock price with strong performance in the second quarter. The company's stock price has more than tripled this year, driven by strong overseas demand, pushing its market value close to 80 trillion Korean won. APR's market value has surpassed South Korea's largest cosmetics brand, Amorepacific, and is gradually approaching the level of Japan's Shiseido. With the increasing popularity of K-pop music and Korean dramas worldwide, APR's flagship brand has also become a hot topic among overseas celebrities. The company's founder, Kim Byung Hoon, has become South Korea's newest billionaire.