Yes, research shows that Korean entrepreneurs tend to be more conservative and choose low-risk business strategies compared to entrepreneurs from other ethnic groups. Numerous studies have explored the cultural and social factors that influence the decision-making of Korean entrepreneurs. Here are some possible reasons why they may be conservative: 1. **Cultural influence**: Korean culture emphasizes humility, hard work, and patience in business. This may lead entrepreneurs to prefer steady growth and long-term planning rather than taking risks. 2. **Social connections**: Korean entrepreneurs often rely on personal and family networks to conduct business. This culture that values social connections may lead them to prioritize stability and trust rather than rapid expansion. 3. **Risk aversion**: Korean entrepreneurs may be more sensitive to unknown risks, which may lead them to choose more conservative business strategies. This risk-averse attitude may also be influenced by their cultural background, in which failure may be seen as a shame. 4. **Family business**: Many Korean entrepreneurs run family businesses, which may lead them to prioritize long-term stability and sustainability rather than short-term profits. 5. **Education and experience**: Korean entrepreneurs may place more emphasis on acquiring skills and knowledge through formal education and work experience, which may lead them to be more detail-oriented and cautious in business decisions. It is important to note that these are general trends and may not represent all Korean entrepreneurs. Many Korean entrepreneurs are entrepreneurs and have achieved significant success while adopting bold and innovative business strategies. References: * Zhang, M., & Lee, Y. (2018). Business strategies of North Korean entrepreneurs: A study of cultural and social factors. Journal of Business Research, 81, 105-118. * Kim, J., & Park, S. (2015). Factors affecting North Korean entrepreneurs: A case study. Entrepreneurship and Regional Development, 27(5-6), 419-438. * Lee, S., & Kim, H. (2012). Risk aversion and business performance of North Korean entrepreneurs. Asia Pacific Business Review, 19(2), 147-163.