Joint ventures are frequently used for entering foreign markets by firms from developing countries. Yet, compared with much research on joint ventures from developed countries, few research has been reported on the joint ventures from developing countries despite of the growing importance of LDC joint ventures in the field. Thus, the paper reports the findings on the characteristics and determinants of performances of joint ventures are found to be different from those found on joint ventures from developed countries. It is also found that performances of the Korean joint ventures are determined by commitment and control.