What are the top 5 K-beauty companies?
The hottest topic in Korea’s stock market and K-beauty industry right now is undoubtedly APR’s rise to No. 1 in market capitalization.
In August 2025, APR’s market cap reached 7.9 trillion KRW, overtaking long-time industry leader Amorepacific (7.5 trillion KRW). This remarkable feat represents a fourfold growth in just a year and a half.
This news is more than just a numbers game — it signals a fundamental shift in the structure of the K-beauty industry.
Who is APR?
Founded in 2014, APR is built on a completely different DNA compared to traditional cosmetic houses. Unlike Amorepacific, which has long focused on expanding its brand portfolio, APR pioneered a “beauty device + skincare fusion” model.
Its flagship brand, MediCube, paired the AGE-R homecare devices with functional skincare products, fueling explosive growth.
Notably, beauty devices align perfectly with the business model highlighted in WITH.C KOREA’s post “6 Cosmetics Trends 2025: Attending a Beauty Seminar 2025,” where technology and skincare are combined to deliver new experiences.
[APR’s Diversified Brand Portfolio]
- MediCube (Skincare & Beauty Devices)
- Forment (Men’s Grooming & Fragrance)
- AprilSkin (Vegan Skincare & Color Cosmetics)
- Glam.D (Inner Beauty & Health Supplements)
APR derives nearly 78% of its sales from overseas markets, with strong momentum in the U.S., Japan, Southeast Asia, and Europe. In essence, APR is no longer just a cosmetics company — it has evolved into a “global beauty-tech group.”
[2025 Top 5 Korean Cosmetics Companies by Market Cap]
1. APR – ~7.9 trillion KRW (5.85 Billion USD)
Beauty device + skincare fusion model
Explosive global sales growth, now industry leader
2. Amorepacific – ~7.5 trillion KRW (5.56 Billion USD)
Premium portfolio: Sulwhasoo, Laneige, Hera, and more
Diversifying beyond China into North America & Southeast Asia
3. LG Household & Health Care
Luxury cosmetics, household goods, beverages
Competes with APR through the Pra.L beauty device brand
Facing growth stagnation in cosmetics division
4. Cosmax
World’s No.1 cosmetics OEM/ODM manufacturer
Trusted production partner for global brands
Stable growth with multi-trillion market cap
5. KOLMAR Korea
Leading ODM in cosmetics, pharmaceuticals, and health supplements
Strength in technology and large-scale production
Long-term expansion into health, beauty, and inner beauty
While Amorepacific and LG also have device lines (MAKEON and Pra.L), these products were mainly marketed as supplementary tools to enhance existing skincare brands.
APR took a different path.
Within MediCube, it carved out a dedicated AGE-R product line, bundled devices with ampoules/serums, and built a subscription model that encouraged repeat purchases. Coupled with aggressive SNS-driven campaigns targeting younger consumers, APR quickly gained traction domestically and internationally.
APR’s No.1 market cap is proof that K-beauty is entering the “beauty-tech era.” The future of this industry is no longer about selling cosmetics alone, but about integrating technology + brand + experience.
At this crossroads of tradition and innovation, new opportunities will emerge for those who embrace change.
WITH.C KOREA will continue to explore these paradigm shifts, supporting global beauty brands to secure their competitive edge in a rapidly evolving market.