The purpose of this study is to analyze the effects of global value chain(GVC) participation on plants’ performance using Korean establishment-leveldata. To mitigate the selection bias in the global value chain participation, weutilize difference in difference model with propensity score matching technique.We find empirical evidence that participation in the global value chain increasesthe growth rate of plants’ performances. Furthermore, we found theheterogeneous effect of GVC participation by trading partner or the path of theparticipation. On the basis of the unique trade-establishment matched data,our results revealed that manufacturing plants participating in the global valuechain system can grow more than those not.