South Korea’s so-called patriot stocks have sharply retraced after an online campaign briefly lifted Monami, Hansung Enterprise, Vivien and Enex above or near stricter market-capitalization thresholds for maintaining listings. Monami fell 63.7% from its peak of 3,730 won to 1,353 won on the 21st, while Hansung Enterprise dropped 64.5% from 14,520 won to 5,150 won. The Korea Exchange raised the thresholds to 30 billion won for KOSPI and 20 billion won for KOSDAQ from the 1st of last month, and will raise them again to 50 billion won and 30 billion won, respectively, from January. Monami’s first-half revenue fell 5.6% and its operating loss widened 69%, while evidence that speculative buying extended beyond retail investors has prompted caution but no confirmed finding of market manipulation. Share consolidations have surged, yet 83.3% of companies completing such transactions in the cited period traded below their new-share listing prices.