The Necessity of the Industrial Revolution

In the early days of industrial development, government-led industrial policies are bound to be implemented. The measure is aimed at strengthening international competitiveness by localizing imported goods through financial support or tax support. This policy brings about unfair competition in the market, and the industry will grow with the company concerned. In addition, the government has protected many entry barriers under the pretext of protecting the companies that entered the early stage.

However, as the need for nurturing new industries grew, friction with existing ones became inevitable, and the initial entry barrier became a stumbling block to the development of new industries. In addition, an entity that already has market power seeks to maintain a monopoly-type market through its capital and technical capabilities. In addition, lobbying politicians to block new companies from entering the country.

The 4th Industrial Revolution was to restore the slanted grounds of these existing industries. It's a revolution.

The existing mass production manufacturing methods will produce customized products for individual consumer opportunities, and distribution and consumption will also dominate the market by creating new business models that combine online and offline.

Steve(JongMyoung) Park, Ph.D.

Ph.D. in Business Administration

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