A total of 238 listed companies in South Korea failed to meet strengthened stock-price or market-capitalization requirements as of the 25th of last month, potentially affecting 3.1267 million small shareholders with holdings valued at 7.8501 trillion Korean won. The companies included 177 KOSDAQ listings and 61 KOSPI listings after overlaps were excluded. The Financial Services Commission and Korea Exchange raised listing-maintenance market-capitalization thresholds last July to 30 billion Korean won for KOSPI and 20 billion Korean won for KOSDAQ. If the enhanced criteria are applied from next July, an analysis by Rep. Park Min-gyu’s office estimates that 471 companies could be affected, including 114 KOSPI and 357 KOSDAQ listings. The KOSDAQ index’s roughly 47% decline between April 27 and July 30 adds to the risk of further breaches. Under current rules, companies with stock prices below 1,000 Korean won for 30 consecutive trading days or market capitalizations below the maintenance threshold can be designated as management-targeted stocks and face delisting proceedings if they fail to recover within the prescribed period.