Abstract: The central goal of this study is to address the question of which factors of FTA utilization in the era of multi-FTAs and Mega-FTAs influence global business strategy of Korean SMEs. First, this study conducted a factor analysis in order to extract the factors that influence Korean SME’s global business strategy. Second, a multiple regression analysis was performed to see which factors in FTA utilization affect global business competences and global investment. Cronbach’s alpha index would show the internal consistency among the measurement items and the reliability of each scale. First, it was found that Korean SMEs with global business presence amongst Korean, China and Vietnam have implemented global business system and are struggling to be equipped with the best global value chain system under dynamic business environment spanning several countries, regardless of the business size and globalization history. Second, it was found that in FTA utilization corporate external factors analysis of Korean SMEs, both FTA preferential tariffs and trend towards Mega-FTAs system influence to strengthen global business competences positively. Third, it was found that FTA rules-of-origin influences global investment negatively, whereas FTA preferential tariffs influence global investment positively. Fourth, in FTA utilization corporate internal factors analysis of Korean SMEs, global experience was proved to influence to strengthen global business competences positively; however, both management’s commitment to FTA and FTA information acquisition capability were verified not to influence to strengthen global business competences. Fifth, globalization experience of Korean SMEs makes the strongest positive impact to increase global investment and both FTA information acquisition capability and management’s commitment to FTA positively influence to increase global investment.