There's a person who has recently stirred up quite a bit of buzz for his striking resemblance to actor Song Joong Ki. He was born in 1988, making him 35 years old this year. Moreover, he has just crossed the remarkable milestone of exceeding 1.2 trillion KRW (approximately 900 million USD) in stock ownership.
He took a daring leap into entrepreneurship in his twenties, leaving his university studies behind. After a series of ups and downs, he has now become the founder and primary shareholder of a company that has made its mark on the KOSPI (Korea Stock Exchange). By now, one might even speculate that he's a businessperson whom Song Joong Ki himself might envy. We're talking about none other than Kim Byeong Hoon, the founder and CEO of the beauty tech company APR Corp.
APR Corp. made headlines as the first large-scale IPO on the KOSPI for 2024 with its public debut on Tuesday, February 27. The company's stock price reached a peak of 467,500 KRW (approximately 352 USD), highlighting the market's enthusiastic reception. As the founder and principal shareholder of APR Corp., CEO Kim's 35.1% stake, equivalent to 2.56 million shares, catapulted his stock holdings to a value exceeding 1.2 trillion KRW (902 million USD).
It's quite rare for someone in Korea to become a billionaire solely through entrepreneurship, without any inheritance, especially in their thirties.
While the value of his assets may fluctuate with the stock price, it's undeniable that CEO Kim has left an indelible mark on the history of young entrepreneurs in Korea.
Kim Byeong Hoon set foot into the world of entrepreneurship in 2014, when he was just 25 years old. During his time at Yonsei University, he connected with a friend at a startup gathering, and together, they forged ahead with entrepreneurship after taking a break from their studies.
Of course, success didn't come instantly. He initially delved into smartphone apps but didn't achieve significant success. So, he decided to try his hand in the cosmetics brand business. Driven by the goal of crafting top-quality cosmetics and marketing them directly to consumers, he introduced skincare products, giving birth to the cosmetics brand April Skin.
CEO Kim also made strides in the beauty device market following his success in the cosmetics industry. Today, the beauty device sector has become a significant contributor to APR's revenue. Beyond that, he has other ventures, including the fashion brand Noldi and the photo booth business Photogrey.
Public disclosures reveal that, as of last year, APR's beauty business, which includes brands like MediCube and AgeRall, accounts for over 80% of the company's total revenue.
This isn't the first time CEO Kim has caught people's attention. In 2017, he was honored as one of Asia's "30 Under 30" influential leaders by Forbes.
In 2020, he appeared on the YouTube channel 'Negotiation King' as the CEO of NERDY, once again attracting attention for his resemblance to Song Joong Ki. The fact that he shares the same age as Hwang Kwang Hee, the main MC of 'Negotiation King' at the time, also added to the interest.
Since its inception, APR Corp. has achieved an impressive annual growth rate of 157% in revenue until 2022, maintaining its upward trajectory. APR's goal is to transform into a global leader in beauty tech, expanding its current global market reach while venturing into new markets with high growth potential, such as Europe, Southeast Asia, the Middle East, and South America.
As the number of sales outlets for beauty devices, which are currently available in seven overseas countries, grows, the rate of revenue growth is expected to accelerate.
At a recent press conference, CEO Kim stressed, "We will leap into a global beauty tech company by leveraging the strengths of the home beauty device industry, which has seen ten years of uninterrupted growth since its inception."
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