The weakness of small and medium sized firms(SMFs) become more saliant on entering the international market place. The shortage of resource and information of SMFs makes their managers face the greater uncertain environment. The previous studies show that the conventional theory was not satisfactory in explaining Korean SMFs' foreign direct investment. In this paper a new conceptual framework was developed to explain the Korean SMFs' foreign direct investment. The framework was based on both the network(or relational) view and social influence perspective. The foreign direct investment of a SMF can be decided as a result of imitating the first mover's action. This imitating decision making has merit and can be a second best choice for managers who do not have enough information to make the right decision. The conceptual framework theorized this imitation behavior into two separate but interrelated processes. Five hypothesis were developed, and tested using the data collected through the questionnaire method.