As their home country’s market became mature in the 2000s, Korean movie theater firms have begun to venture abroad, particularly, to Southeast Asian countries. CJ CGV, a leading player in the Korean theater industry, made its first entry into China in 2006. But it failed to expand its business due to the intense competition with strong Chinese local players. In order to make up for its failure in China, CGV was determined to advance into the Vietnamese market subsequently. At the time, Vietnam experienced a deep economic recession, and offered favorable regulatory and economic conditions for foreign companies to acquire locally own companies. Taking advantage of the situation, CGV entered the Vietnamese movie theater market in 2011 by acquiring Megastar, the No. 1 theater operator in Vietnam. After the acquisition, CGV successfully carried out the post-merger integration process by making various efforts, such as reforming the organizational structure, introducing advanced HR and financial management systems, granting local managers decision-making rights according to their expertise, and changing the brand name at the proper time. In addition, it has effectively utilized its knowledge and experience gained in the Korean and Chinese markets to expand its business in Vietnam. It has also taken a long-term perspective in the belief that the growth of the local movie industry will ultimately benefit its business in the country. Besides, it has made every effort to localize the content of the movies played in its theaters. Such efforts came to fruition. Currently, CGV is the leading player in the Vietnamese movie theater market. CGV Vietnam is a rare case in which a Korean entertainment company has successfully entered a foreign market by acquiring a local company. This case runs counter to our conventional belief that Korean companies cannot in general succeed in acquiring a foreign company due to their unique management style and corporate culture. This case suggests that Korean companies can accelerate their expansion into a foreign market by undertaking a cross-border acquisition, if they choose a good target company and manage the post-merger integration process effectively.