An “As Told To” interview by Kristaps Kovalonoks, Research Coordinator at Aalto School of Business.
This interview is part of a first-person storytelling series highlighting the journeys, ideas, and insights of members and friends of Aalto University’s Entrepreneurship Unit (ENTU). Real stories, told in their own words.
How does hands-on experience in social entrepreneurship lead to questions that cannot be answered through practice alone? For Yeon Kyu Lee, a doctoral candidate in entrepreneurship at Aalto University, working on social enterprises in Pohang and Boston revealed the limits of action without understanding the systems behind it. In this interview, she reflects on her journey from South Korea to the United States and Finland, how her perspective on entrepreneurship has evolved, and how her research now explores the shifting relationship between the state and the market in shaping the social enterprise field.
I am originally from South Korea. During my bachelor’s degree, I pursued a dual major in global entrepreneurship and biology, or life sciences. From early on, I was interested not only in starting a business, but also in the mindset behind entrepreneurship, such as risk taking, creativity, and solving real-world problems.
During my studies, I had opportunities to work on projects connected to entrepreneurship and development. Through an Asian Development Bank programme, I spent time in a community in the Philippines where there was no electricity, working on environmental challenges. I also visited Peru to support entrepreneurship training with a professor, working with local entrepreneurs and government officials to develop solutions to local issues.
These experiences made me realise that I wanted a stronger foundation in entrepreneurship, so I moved to the United States to pursue a master’s degree at Babson College in Boston.
After my studies, I prepared to launch social enterprises twice – once in Pohang, a southern city in South Korea, and once in Boston. Through these experiences, I faced many challenges that made me want to understand social entrepreneurship more deeply, not only how to run a social enterprise, but what shapes the field around it.
When I was looking for the right place to continue this journey, Finland stood out because of its entrepreneurial ecosystem, especially around social and sustainable entrepreneurship. I also saw that ENTU had strong expertise in these areas, which led me to apply for a PhD at Aalto University.
For me, the decision was very intentional. After working on social enterprises, I realised I was not only interested in practice, but also in understanding the broader systems that shape entrepreneurship, especially in the context of social and sustainable impact.
I was looking for a place where entrepreneurship is a strong and independent research field, not just a small part of another discipline. Aalto stood out because of its dedicated research community in entrepreneurship, particularly the work being done around social and sustainable entrepreneurship within ENTU.
Finland also felt like an interesting context. Even though I did not know much about the country at the time, I was aware of its reputation for sustainability and innovation. It seemed like a place where I could both deepen my research and experience a different way of thinking about entrepreneurship and society.
I only applied to Aalto. It was a risky decision, but it reflected how strongly I felt that this was the right environment for me.
At first, I understood entrepreneurship mostly in relation to industry, business creation, and problem solving through risk taking and creativity.
Over time, my perspective became broader. I started to see entrepreneurship as a tool that can open opportunities for people. It is also a mindset that helps you notice things that are not immediately visible, including social issues, local challenges, and non-tangible forms of value.
This connects to my interest in life sciences as well. I have always believed that many innovations are inspired by nature, and I have been interested in using knowledge from life sciences to address social problems. For me, entrepreneurship is not only about markets or business, but about recognizing opportunities, imagining alternatives, and creating pathways.
Honestly, I never planned to apply for a PhD. I originally expected to work in industry.
During my master’s programme, I realised I was asking different kinds of questions compared to many other students. While many wanted to start a business or improve their career position, I was more interested in how systems change, how processes can be transformed through entrepreneurship, and how environments shape what entrepreneurs can do.
During a winter class, I visited Israel to study its startup ecosystem. I was surprised by how entrepreneur-friendly the environment was. I met government officials, venture capitalists, and entrepreneurs, and it made me reflect on the value of research.
Entrepreneurs are often focused on solving problems in the market, but research allows us to see the broader picture and understand what needs to change in the entrepreneurial environment itself. That was the moment I decided to pursue a PhD. I realised I enjoyed this type of work even more than running a business. I believe this is a way to support social entrepreneurs, which I have cared deeply about for a long time.
My research focus has evolved during the PhD. I began with a stronger focus on entrepreneurship at the field level, but gradually moved towards a more macro perspective, looking at the ecosystem and the power dynamics between the state and the market.
My work focuses on South Korea’s social enterprise field as a special case. In Korea, the field was not built as a bottom-up grassroots movement. Instead, it was intentionally designed and developed by the government. What interests me is how, even when the state creates and structures a field, market dynamics can reshape the state’s role over time.
In the beginning, the state was very coercive and top-down. Later, it became more passive, almost acting as a follower of the market, trying to learn from it and adopt its ways of working.
Across my papers, I examine how state–market relations are reconfigured, how these structures shift, and how entrepreneurs respond when the state creates labels and regulated categories. I focus on the strategies entrepreneurs use to adapt, respond, and overcome constraints.
I try to go to South Korea for data collection, as people feel more comfortable speaking in Korean. When I interview participants, they often ask if I really came from Finland.
Entering networks can be challenging because people are busy, and it takes time to reach the right individuals. Still, I feel grateful, as many participants have shared valuable stories with me.
After my first fieldwork, my research focus shifted further towards the macro level. For my first paper, I used extensive archival data. In Korea, National Assembly meetings are recorded in great detail, including very specific discussions. I reviewed records from the early 2000s to 2022, which amounted to more than 4,000 pages.
At the time, there were not many AI tools available to support this work, and everything was in Korean, so I had to read and analyse the material myself. It was time-consuming, but it allowed me to understand how government-level decisions shaped the field.
My routine is quite simple. I do my most focused work in the morning, especially writing. I have realised that this is when I think most clearly, so I try to protect that time for deep work.
In the afternoons, I focus on more operational tasks. Then I rest and repeat.
At the moment, I am writing almost all the time. I have an ambitious goal to complete my PhD package by early April, so some days I spend the entire day working. It is intensive, but so far, so good.
I have lived in Finland for five years now. The transition was not too difficult in terms of weather, as Boston winters can also be cold, with limited daylight and snow. However, November and December in Finland can still feel surprising because of how little sunlight there is.
I really enjoy life in Finland. It feels safe, calm, and cosy. I am not someone who enjoys big parties, and in the US there were many. Here, I enjoy having my own space and spending time with close people. I also appreciate that people are kind in a quiet way. It feels warm, but not overly expressive, more like a quiet understanding.
I have also grown to appreciate Finnish sauna. At first, I was not very enthusiastic, as sauna also exists in Korea, although in a different form. But over time, I started using the sauna at home, and now I use it almost every day.
Living in Finland has also changed how I think about sunlight. Finnish people really value it, and now I do too. Even in winter, sunlight feels precious.
I also enjoy walking by the sea, even when it is frozen. At Aalto, the bird tower is my favourite place. When I feel tired or get a headache from work, I go there for a short walk, breathe, reset, and then return to work.
For me, the challenge is not specific to Aalto or Finland, but to the nature of doing a PhD itself.
I enjoy raising questions and trying to find deeper answers. However, the difficulty is that there is often no single correct answer. You can discuss your ideas with supervisors and peers, but there is always uncertainty. You try to develop the strongest possible argument, but it takes time and persistence.
It is very different from industry work. In industry, you have clear deadlines, quick feedback, and visible outcomes. Academic work follows a different rhythm, and learning to live with uncertainty is one of the hardest parts.
Because of this, PhD students can sometimes feel lonely or discouraged. It is a common experience.
People, especially within our department.
When I feel discouraged, my supervisor sometimes reminds me how much I have developed and how far I have come. My peers also support me. It feels like we are going through this journey together, and that sense of shared experience is very important.
We share our research not only for academic discussion, but also because it helps to be around others who face similar challenges.
The PhD progress seminar each semester is also valuable. Faculty provide detailed feedback, which helps you see your work more clearly, even when you personally feel uncertain.
I also appreciate the wider community across the department. There are seminars and workshops across units, and there is a strong sense of collaboration. I admire the humility of senior faculty as well. It creates a respectful environment where you can continue to learn and improve.
There will be hardship, but try to enjoy the journey.
For me, the PhD is a process of learning how to appreciate and live in the present moment. It can be hard, lonely, and challenging, but it is also something very valuable. It is a long journey, and I would remind myself to truly experience it, not just try to get through it.
One of the biggest values of doing a PhD at Aalto, and in our unit, is the freedom. PhD students can choose what they genuinely want to work on and follow their own research interests. Even if your topic is not exactly within your supervisor’s main expertise, there are always opportunities to learn from others and find support across the department.
There is a strong sense of freedom, respect, and encouragement.
There is a proverb that says raising a child takes a whole village. I think the PhD journey is similar. You need supervisors who guide you, peers who support you, and a community that helps you grow. That is something I have truly valued at Aalto.
