FEATURES OF APPLYING INNOVATIONS AND INTELLECTUAL PROPERTY AS A STRATEGIC TOOL IN DEVELOPING A STRATEGY FOR ENTERING THE KOREAN MARKET
E. I. Protskaya
Russian state academy of intellectual property, Moscow, Russia
e-mail: katt.pro@gmail.com
A. S. Khvorostyanaya
Lomonosov Moscow State University, Moscow, Russia
e-mail: khvorostyanayaas@gmail.com
Abstract. The relevance of this work is due to the fact that the Korean market is one of the most developed and continues to develop dynamically, therefore it is attractive and promising for foreign companies, including Russian. The relevance of this work is due to the fact that the Korean market is one of the most developed today and continues to develop dynamically. This makes it attractive and promising for Russian companies. However, the Korean market is characterized by high competitiveness, and therefore it is necessary to pay special attention to additional strategic tools, which can be innovations and intellectual property of the company. The purpose of this article is to identify the features necessary to take into account when developing a strategy for entering the South Korean market. The use of innovations and intellectual property in strategizing is an actual trend due to the increase in the value of such objects in both domestic and foreign practice. In this regard, the object of the work identified intellectual property and innovation, considered as a strategic tool for the development of competitiveness. The subject of the study is the peculiarities of using the competitive advantages of intellectual property objects when developing a strategy for entering the Korean market. The research was based on the general theory of strategy and the methodology of strategizing, developed by V. L. Quint, Doctor of Economics, Professor, foreign member of the Russian Academy of Sciences. The research methods were analysis and comparison, classification and generalization. The article considered the main economic indicators characterizing the Korean market. In accordance with the characteristics inherent in this market, characteristics were compiled according to the parameters necessary for use in the development of a strategy. Recommendations were given to facilitate the development of a strategy for entering the Korean market, applicable to companies in various fields. The set of parameters considered is relevant for companies with different goals, amounts of resources and time capabilities. The scientific and practical significance of the results obtained consists in supplementing the theoretical base of research and the high applicability of the results obtained in the practical activities of companies with strategic priorities focused on expanding their foreign presence.
Key words: strategizing process, competitive advantages, intellectual property, Korean market, entry strategy, export, innovations.
Cite as: Protskaya, E. I., Khvorostyanaya, A. S. (2022) [Features of applying innovations and intellectual property as a strategic tool in developing a strategy for entering the Korean market]. Intellekt. Innovatsii. Investitsii [Intellect. Innovations. Investments]. Vol. 1, pp. 62–71, https://doi.org/10.25198/2077-7175-2022-1-62.
