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The current situation and difficulties of Korean enterprises

The current pressure on Korean companies should not be underestimated. In the competition for market share, Korean companies have been gradually surpassed by Chinese companies in some areas. Chinese companies have won more market share by virtue of their innovation capabilities, efficient production and high-quality services. Korean companies are facing fierce competition from Chinese counterparts in traditional advantageous fields such as electronics and automobiles. For example, in the electronic products market, Chinese brands have gradually seized part of the market that originally belonged to Korean companies by virtue of technological breakthroughs and price advantages.

Korean companies’ dependence

Another key issue is that Korean companies are highly dependent on external resources. Once the supply of raw materials, parts and components is affected by external factors, it will have a serious impact on the production and operation of Korean companies. Moreover, this dependence puts Korean companies at a relative disadvantage in terms of cost control and supply chain stability. For example, in the field of chip manufacturing, fluctuations in the supply of key raw materials directly affect the production progress and product delivery of Korean companies.

Challenges Brought by Market Changes

The rapid changes in the global market have also brought huge challenges to Korean companies. With the continuous upgrading of consumer demand and the acceleration of technological upgrading, Korean companies will be easily eliminated by the market if they cannot keep up with the pace. With the rise of emerging technologies such as artificial intelligence and the Internet of Things, Korean companies' investment and development in these fields are relatively lagging, and they have missed some market opportunities.

Korean companies’ response strategies

Faced with these pressures and difficulties, Korean companies need to adopt active and effective response strategies. First, increase R&D investment, enhance independent innovation capabilities, and launch more competitive products and services. Second, optimize supply chain management, reduce dependence on external resources, and improve the flexibility and stability of the supply chain. In addition, strengthen cooperation with other companies to jointly respond to market challenges and achieve resource sharing and complementary advantages.

Future prospects of the industry

Looking ahead, although the pressure faced by Korean enterprises is huge, it is not insurmountable. Through their own efforts and adjustments, Korean enterprises are expected to regain their advantages in the fierce market competition. At the same time, the recovery of the global economy and the rise of emerging markets have also provided new development opportunities for Korean enterprises. Korean enterprises need to accurately grasp market trends and flexibly adjust strategies in order to achieve better results in future development. In short, the pressure currently faced by Korean enterprises is the result of the combined effect of multiple factors. Only by deeply analyzing the root causes of the problems and taking practical and feasible countermeasures can Korean enterprises achieve sustainable development in the fierce market competition.