This case study selects DK&D Co., Ltd., a small and medium-sized Korean company that entered the Vietnam market. DK&D has secured a global technological competitive advantage by developing and differentiating eco-friendly, functional, high value-added synthetic leather materials in the production of automobiles, furniture, aircraft seats, IT materials, headsets, bags and golf gloves. The company's synthetic leather material is a product coated with PU (polyurethane) resin in the fabric, and has excellent functions such as lightness, ventilation, waterproof, flame resistant, and anti-staining compared to natural leather. The new synthetic material utilizes water-based PU(polyurethane), non-solvent PU adhesives, and silicon resin instead of existing solvent-type PU, solvent-use glue, but the company also completes the paradoxical mission of successfully substituting natural leather by retaining high value quality and eco-friendly characteristics. This case study aims to obtain implications for the overseas expansion of our SMEs by analyzing the success factors of DK&D's overseas expansion using the ser-M framework. The subject(S) utilizes the demand environment(E) of eco-friendly synthetic leather that replaces natural leather in ethical consumption trends to reduce the risk of environmental destruction, continued research and development and integration of its own brand resource(R). The 3 components of the mechanism(M) are 1. the selecting mechanism, such as globalization & localization and product differentiation, 2. the coordinating mechanism of global network establishment and organization integration, and 3. the learning mechanism of market knowledge acquisition and technology learning internalization are integrated through utilizing management subject(S), resource(R) and the environment(E).