This study investigates the effects of exploration and exploitation on organizational longevity. There has been intense debate over the importance of pursuing a balance between exploration and exploitation in an organization's long-term performance and survival. However, most empirical studies have not contributed to this debate because they have focused mainly on organizations' short-term financial outcomes. This study examines the effects of this balance on organizational longevity. The results, based on a sample of 81 manufacturing firms in IT-related industries in Korea, indicate an inverted U-shaped curvilinear relationship between the relative extent of explorative innovation and organizational longevity. This relationship is moderated by financial slack, strategic orientation, and environmental dynamism.