This study proposes a stage model of expatriates’ socio-cultural adjustment and performs exploratory analyses to test the model. Departing from the past research tradition that has focused mainly on the dimensions of expatriates’ overseas adjustment, this study focuses on the stages of expatriates’ in-country socio-cultural adjustment. Specifically, expatriates’adjustment process is categorized into three distinct but sequential stages i.e. encounter, adaptation, and stabilization. Our empirical analysis focuses on the existence of nomological networks with those variables which have been previously assumed to affect the degree of international adjustment. Our test results showed that length of time spent in the host country and previous international experience had a positive impact on expatriates’ adjustment, while perceived cultural differences had a negative effect. Interestingly, previous international experience in the same culture zone was found to bea suppressor in this study. Individual variables such as favorable attitude toward host culture and active attitude toward interpersonal relations explained little variances in expatriates’ adjustment process. Implications and future research directions are suggested.