The purpose of this study is to suggest an efficient guideline for the Smart Grid business. Recently, energy inefficiency problem is a critical global issue. Thereby, the Smart Grid has been emerging as a solution to the energy inefficiency problem. However, related studies of the Smart Grid strategy were not sufficient to promote the Smart Grid business. Therefore, this study examined cases of countries that are on the process of promoting the Smart Grid. Moreover, this study analysed the test bed case of Jeju island led by Korean government. This study suggests comprehensive strategic implications to the Smart Grid business through the comparative analysis of the countries. Thus, this study provides useful guidelines to the countries that are on early stage of the Smart Grid business.