상폐 위기 몰린 동전주 기업들, M&A 카드 '만지작'

South Korea's regulatory tightening on penny stocks and market cap requirements is forcing small-cap listed companies to pursue M&A as a survival strategy, driven by newly enforced delisting criteria. While this regulatory reform aims to clean up the market and strengthen its integrity, the rushed consolidations risk undermining shareholder value as companies prioritize listing maintenance over genuine business synergies. The delisting overhaul signals a major market restructuring where weak-performing companies face increasing pressure to consolidate or exit.