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This research investigates the effect of foreign direct investments and export on the capital structure of companies in emerging economies. Based on the agency theory, various hypotheses are tested on a dataset of 2049 South Korean listed companies. Regression analysis reveals that multinationals employ a higher long term degree of debt than domestic companies do. Additionally, a negative correlation is discovered between foreign direct investments and degree of debt, contradictory to findings in other research regarding multinationals in emerging economies. The degree in which a company does export will lead to a lower degree of debt. Finally, the interaction-effect between degree of direct foreign investments and the export is investigated on the capital structure of multinationals, leading to the conclusion that the impact is not significant. This indicates that the costs for creditors connected to agency costs will rise significantly when the company processes increase in complexity.