This study examined the factors influencing the transfer of innovation know-how from headquarters to overseas subsidiaries, based on innovation projects implemented between 2000 and 2003 by the foreign affiliates of an internationalized Korean chaebol group. According to the empirical analysis results, the tacitness of knowledge was a significant barrier to the transfer of innovation know-how, while the absorptive capacity of overseas subsidiaries was a factor that facilitated know-how transfer. Furthermore, the transfer of innovation know-how tended to be promoted when project managers maintained complementary formal communication channels with headquarters, but informal networks among managers did not play a significant role as complementary channels. In addition, the high perceived potential value of innovation know-how by project members, along with active support from subsidiary management and headquarters personnel, made important contributions to the successful transfer of know-how. These results collectively suggest that although internationally sharing innovation know-how within multinational enterprises is an extremely difficult task due to its inherent tacitness, managers can effectively cope with this challenge by developing and implementing appropriate formal transfer mechanisms and providing active support for international innovation activities.