[Market Focus] Musk Announces Return to Tesla... Domestic Secondary Battery Stocks Rise

Shares of domestic secondary battery-related companies rose across the board on April 23, following the announcement by Tesla CEO Elon Musk that he will fully return to managing the company starting next month.

As of 11:08 a.m. on this day, Samsung SDI was trading at 184,800 won, up 7,500 won (4.23%) from the previous trading day. At the same time, LG Energy Solution rose 3.46% to 343,500 won, and SK Innovation was up 2.28% at 94,200 won. Shares of Enchem (12.87%), Ecopro Materials (4.59%), and Ecopro BM (3.81%) were also on the rise.

Previously, on April 22 (local time), CEO Musk stated during Tesla's first-quarter earnings conference call that "most of the main tasks of the Department of Government Efficiency (DOGE) have been completed," and announced his plan to focus on Tesla business starting next month. Tesla's share price rose 4.6% in the regular session that day, and after CEO Musk's remarks in after-hours trading, the stock saw an increase of over 5%.