This study explored the relationships between foreigner`s perceived value about Korean food and its evaluation and buying intention along with mediation effect of the Korean wave, To accomplish the objectives, data were collected by Chinese tourists who visited to Korea in January and July, 2010. Several statistical tests, such as frequency analysis, reliability test, principle component analysis, correlation analysis, and structural equation modeling, were conducted to analyze the data. The study results showed that the foreigner`s perceived value about Korean food didn`t influence on the food`s evaluation, while the perceived value positively affected buying intention of Korean food. The Korean wave was significantly related with the evaluation of and buying intention of Korean food. The findings suggested that the best way to make "globalization of Korean food" is to establish Korean food`s perceived value with the Korean wave.