The secondary battery sector, which propelled the stock market last year, has experienced a persistent decline since the beginning of this year, leading to a reduction in market capitalization of nearly 50 trillion won.
According to the Korea Exchange, the aggregated market capitalization of nine secondary battery companies, ranked within the top 50 by market capitalization on the KOSPI and KOSDAQ markets, has decreased from 308.61 trillion won (US$230.86 billion) at the start of the year to 259.72 trillion won as of Jan. 26.
The collective market capitalization of LG Energy Solution, POSCO Holdings, LG Chem, Samsung SDI, EcoPro BM, POSCO Future M, EcoPro, SK Innovation, and EcoPro Materials has plummeted by a substantial 48.89 trillion won compared to the beginning of the year.
The market capitalization rankings of major secondary battery stocks have consistently declined in succession.
POSCO Holdings has dropped from 7th to 10th place, POSCO Future M from 14th to 17th place, SK Innovation from 23rd to 31st place, and EcoPro Materials from 24th to 34th place.
On the 24th (local date), U.S. electric vehicle manufacturer Tesla forecasted a more challenging year for its business compared to the previous year, contributing to the downward pressure on domestic battery stocks.
On the 26th, LG Energy Solution rebounded by over 3.5 percent, and EcoPro surged by 9.3 percent, signaling strength in most secondary battery stocks. However, experts attribute this to a “technical rebound” rather than a trend reversal. Amid unfavorable battery-related policies and market conditions, “intermittent rebounds” are observed within an overall downward trend.