The purposes of this study was to identify fashion shoppers’perceived risk and satisfaction while shopping at overseas online shopping malls based on their internet shopping values. A self-administered questionnaire was used for data collection and an internet survey was conducted from April 12~15, 2015. Most consumers purchased one or two fashion items at overseas online malls directly, motivated by low prices, and spent 200,000~400,000 won during the last one year. The factors of consumers’ internet shopping values were information, hedonics, and practicality. Factors of perceived risk were delivery and refund, price and approval, and product and shopping mall. Consumers were divided into three categories: heavy pursuit shoppers, intermediate shoppers, and uninformed shoppers based on their internet shopping values. Heavy pursuit shoppers were primarily female; they spent more, felt a deeper patronage with overseas online shopping malls and their perceived risk regarding delivery and refund was higher than the other shoppers. The group of uninformed shoppers were primarily male. They spent less, had low patronage with overseas online shopping malls, and their perceived risk regarding delivery and refund was lower than other shoppers. Overall satisfaction was positively affected by information provided while shoppers were surfing the overseas online shopping malls and practicality. Satisfaction was negatively affected by perceived risk regarding price and approval and difficulty in finding specific products while shopping at overseas online shopping malls.