This research was designed to determine factors that influence entrepreneurial intentions (EI) of South Korean young generation. In particular, efforts have been made to distinguish the different impacts of general self-efficacy (SE) and entrepreneurial self-efficacy (ESE). For this purpose, a cross-sectional study was designed and 349 college students in South Korea were surveyed. Findings showed that high self-efficacy, unlike previous studies, could lower the entrepreneurial intentions. However, when it is mediated by creativity, it increases the youth's intention of starting a business, which suggests that it is necessary to investigate the diverse functions of self-efficacy when studying its impacts on entrepreneurial intention.