Market capitalization of Korea's largest cosmetics firm Amorepacific fell from 7th to 10th place on Friday.
Some industry watchers say the firm's market cap may drop out of the top 10 amid the prolonged economic slump in China. Others say it may regain its position thanks to the growing number of Chinese tourists in Korea.
On the day, shares of the firm closed down by 3.91 percent to 332,000 won. The company saw a 25.39 percent drop from 445,000 won on July 2, the highest figure of this year. The total market price also dropped to 19 trillion won from the previous day of 20.1 trillion won.
Since Amorepacific relisted the firm after splitting par value of its stock from 5,000 won to 500 won in May, its trading surged and market cap went up to the fifth.
The company's chairman Suh Kyung-Bae once topped the rich list in Korea in July with his share value exceeding 12 trillion won, beating Samsung Group's chief Lee Kun-hee. At the time, his share value was estimated to be around 12 trillion won, a 6 trillion won surge from the early this year.
However, as the economy struggled with the outbreak of MERS and the number of tourists dropped in May alongside the economic slowdown in China, the strong upturn of the stock slowed.
Some observers said its market cap will recover again with the help of the increasing number of foreign tourists.
According to the tourism agency, the number of tourists dropped 41 percent in June and 53 percent in July following the outbreak of MERS virus. However, the figure was beginning to recover from a month of August.
