The purpose of this study is to propose the fundamental direction of international management strategy that Korean firms should pursue in response to the changing circumstances of industrial globalization. To this end, this study first identifies and examines the substance of changes in the global environment by cause, and then presents a basic model of international management strategy from the perspectives of globalization and localization—the two main axes of corporate internationalization approaches—within the context of the changing global environment. Using this model, the study then surveys the internationalization status of Korean firms (specifically, general trading companies in this study) and examines their levels of globalization and localization. Finally, the study explores the direction of international management strategy for Korean firms from the perspective of harmonizing globalization and localization.