This paper uses panel data method to examine the determinants of South Korean outward foreign direct investment into six Southeast Asian countries for the period 1991-2008. The empirical model shows that labor quality, political risk, and level of technology of host region have significant and plausible effects on the stock of Korean FDI. Fixed-effects panel estimation results reveal that labor cost plays an important role in attracting Korean FDI whereas host market size shows positive but insignificant coefficient. We also find that the effects of market size, labor cost and level of technology vary by sectors. Contrary to the role of technology potentiality, labor cost plays a positive role in deciding location in both primary and manufacturing, but deters FDI in services.