In this paper, we analyzed whether there exists positive relation between firm’s global activity and various innovation output and, if it exists, what are the major factors by which innovation outputs can be generated, focusing on the different degree of global activity. We found that for foreign MNC affiliates, their superior information access to existing knowledge is much more important and for non-MNC exporters and domestic MNC parents not only access to existing knowledge but also active investment in new knowledge is important. When we analyze the product and the process innovation separately, we found that for the process innovation information flows from existing knowledge is relatively more important while for product innovation investment in new knowledge and information flows from existing knowledge are almost equally important. Thus in Korea policies that promote both direct R&D activities and information flows should be pursued at the same time to enhance firms’ innovativeness.