Heading into the match in second place in Group B, a draw would only potentially be enough for Honduras to advance should New Zealand Under-23s and Romania Under-23s also draw in the other game in the group.
Having advanced from the group stage in three of the last four Olympics, including when finishing third in London in 2012, South Korea's sterling record in this competition came under serious threat after a 1-0 defeat to New Zealand in their opening match.
However, Kim Hak-bum's side were extremely unfortunate to lose that match to Chris Wood's second-half strike, with Winston Reid preventing a goal-bound effort as the AFC side battered their opponents without managing to find a breakthrough.
South Korea certainly did not show Romania as much leniency in front of goal last time out, running out 4-0 winners, with three second-half strikes coming after Ion Gheorghe had been sent off in first-half injury time.
As such, avoiding defeat against Honduras will prove enough to advance to the quarter-finals due to their superior goal difference in the group, but Hak-bum will clearly be instructing his players to go for the win and wrap up top spot in Group B.
Like their forthcoming opponents, Honduras have a proud record at the Olympics, too, having reached the quarter-finals in 2012 before finishing fourth in 2016.
The parallels between the two nations do not stop there, either, given that Honduras also suffered a disappointing 1-0 defeat in their opening game to Romania this time around.
Honduras looked to be crashing out of the Olympics when 2-1 down against New Zealand beyond the final 15 minutes of normal time last time out, but two late strikes from Juan Carlos Obregon and Rigoberto Rives turned the game on its head as they moved into second place in the group.
Falero's side cannot afford to rest on their laurels, though, with only a win against South Korea on Wednesday guaranteeing a third successive Olympics quarter-final for La Bicolor Olimpica.
Perhaps unsurprisingly, Kim made several changes for South Korea's match against Romania on Sunday, but he is far less likely to make many after a resounding 4-0 victory.
This is particularly the case given that his side only faced 10 men for more than 45 minutes, meaning his players will likely have kept plenty in the tank ahead of Wednesday's showdown.
Falero, meanwhile, only made three changes to the side which ultimately defeated New Zealand 3-2 in dramatic fashion.
Given that it was two substitutes - Rives and Obregon - who hugely contributed to the win with two late strikes, more changes could be afoot for Wednesday's crucial game.
South Korea Under-23s possible starting lineup:
Bum-keun; Young-woo, Tae-uk, Ji-soo, Yoon-sung; Won-sang, Du-jae, Seung-won, Dong-jun; Kang-in, Ui-jo
Honduras Under-23s possible starting lineup:
Guity; Melendez, Maldonado, Garcia, Decas; Rives, Rodriguez, Alvarez, Reyes; Martinez, Obregon
We say: South Korea Under-23s 1-1 Honduras Under-23s
We can envisage a very closely fought affair on Wednesday, with both sides desperate to avoid defeat, which would guarantee either's exit from the competition.
As such, it would be no surprise to see a draw play out between these two proud Olympic footballing nations, with Honduras hoping the other game in Group B also ends as a low-scoring stalemate should that prove to be the case.