The domestic convenience store market has entered a great transition to stop quantitative growth and pursue qualitative growth due to various regulations. As concerns over a slowdown in growth have been raised due to the market's saturation, the domestic convenience store industry is targeting overseas markets to lay the foundation for stable profit generation. This study analyzed how GS25, a leading convenience store company in Korea, entered the Vietnamese market through joint ventures and how the joint venture and master franchise entry method used by this company contributed to the success of the local market. Convenience stores, a modern distribution channel, are proliferating due to the increase in income of local consumers in Vietnam and changes in purchasing patterns. In the convenience store market in Vietnam, foreign companies have a high share (96.9%), which seems to be due to the competitiveness of foreign companies in the convenience store industry. In the Vietnamese convenience store market, GS25 entered Vietnam by establishing a joint venture with the local Vietnamese emerging company Son Kim Group and signed a master franchise contract with the company. This is a globalization strategy that actively shares and transfers the management know-how of the headquarters based on the high level of immersion of the headquarters through equity investment and a localization strategy in which partners promote a management method suitable for the local environment based on the master franchise method. GS25 in Vietnam implemented globalization strategies such as providing differentiated private brand (PB) products of GS Retail, operating specific category reinforcement stores, and strengthening quick commerce functions. Also, expanded merchants quickly and operated stores to meet the needs of young local customers. Currently, GS25 in Vietnam has proven its business feasibility in the region by opening franchises for the local public and working on a strategy to expand its appearance to improve profitability through economies of scale. GS25's triumphant entry into Vietnam through joint ventures is expected to provide many implications for latecomers aiming to enter the Vietnamese market in the future and for companies considering globalization and localization strategies.