Objectives: With increasing concerns for the rapidly growing minority population in South Korea, this literature review addressed a range of mental health risks among multiethnic youths (MY) in South Korea by 1) comparing mental health outcomes with those of native-born youths and 2) identifying multiple layers of relevant environmental factors, from family and school relationships to culture. Methods: We reviewed 54 studies that fulfilled specific inclusion criteria. Results: Multiple common risk/protective factors, including family separation, family relationship quality, parental socioeconomic and mental health status, social relationships at school, and cultural acceptance, were noted. Conclusion: In general, empirical evidence indicates that minority youths have relatively heightened risks for emotional and behavioral problems. Future studies must elucidate the complex interplay between multiple risk and protective factors and the long-term adaptation and mental health service utilization of MY.