This essay inquires into the implications of the so-called intercultural theater, examining Oh Tac-Suk`s The Tempest (Mokwha Repertory Company) and its reception in the international theatre market. Created for the 2011 Edinburgh International Festival themed as “The Far East,” Oh`s The Tempest is every inch a Koreanized spectacle, from its setting, character names, costume and properties, to songs, dance and rituals. The production was well received as a successful fusion of Shakespeare and Koreanness. However, Oh`s truncated version does not do Shakespeare justice, neither in terms of poetic language nor complex psychology. Oh uses Shakespeare as a vehicle to display Korean culture and tradition rather than using Korean elements to decorate Shakespeare. Oh`s freedom from bardolatry signals the post-Shakespeare phase in Korea: Shakespeare is revered more for his global currency than literary merit. However, Koreanness in Oh`s The Tempest can be also questioned for its lack of authenticity and historicity. Intercultural theatre offers non-Western directors a space to affirm their national culture, yet at the risk of falling prey to global capitalism. Oh`s The Tempest shows what a difficult feat it is to be truly “intercultural”.