The current global construction market is growing tremendously largely due to globalization of world construction markets, rapid development of world-wide communication technologies, extensions of regional Free Trade Blocks, just to name a few. Korean companies, in search for a growth from the recession of domestic construction market, have expanded into the globalized market over the last decades. During this process, collaborative entries have increased remarkably to mitigate the burdens of entry risks. This study focuses on the formation of collaborative networks of Korean contractors when entering foreign markets. Social network analysis (SNA) is introduced to investigate a variety of collaboration patterns and also their impact on performance. To this end, real collaboration cases of 389 overseas projects executed by Korean companies since 1990 were collected and classified into firms size, collaboration modes, and performance levels. Results of SNA showed a series of apparent tendencies of developing collaboration networks, in order to realize a better performance under the risky project conditions. This study is expected to be used to search a capable partner to gain improved outcome while considering the relevant network hubs as well as their risk levels.