Jang Won-young’s Hot Item Made It Happen: This Company Turned 5.2 Million Won in Startup Capital Into a TIME '100 Most Influential Companies' Spot

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[Financial News] K-beauty company APR has become the first Korean beauty company to be included in Time magazine's list of the '100 Most Influential Companies in the World.'
APR said on the 3rd that it was named to Time's list of 100 companies announced on the 30th of last month, local time. Among this year's 100 companies, APR is the only Korean company on the list.
According to the Time website, APR was selected in the 'Titans' category, which refers to giant companies that dominate their industries. Global big tech companies such as Alphabet Inc., NVIDIA Corporation, Meta Platforms and SpaceX were also listed in the same category.
Time described APR as a 'phenom of global K-beauty' and said it is "a company driving the growth of K-beauty around the world."
It also introduced the company as one that CEO Byunghoon Kim started in 2014 with less than $3,500, or about 5.2 million won, and that has since risen to become South Korea's largest beauty company by market capitalization, surpassing rival Amorepacific.
As of that day, APR's market capitalization stood at about 15.9 trillion won. That is more than the combined market value of Amorepacific, at about 7.9 trillion won, and LG Household & Health Care, at about 3.9 trillion won.
APR's key brand, Medicube, which is driving the company's growth, is popular in markets around the world, including the United States. Jang Won-young of IVE is its official model.
Time explained that the brand enjoys overwhelming popularity on TikTok and other social networking services (SNS), and that major influencers such as Alix Earle, Hailey Rhode Bieber and Kylie Jenner have recommended the products.
Since 2021, Time has selected and announced 100 of the year's most influential companies every year. Korean companies such as Samsung Group, Hyundai Motor Company and Hanwha Group have been included before, but this is the first time a beauty company has made the list.
 
y27k@fnnews.com Reporter Seo Yoon-kyung Reporter