Koreans rarely complain of depression or other psychological problems because mental illness is viewed as a stigmatizing and threatening experience. This study examined the relationships among stressful life events, close relationships, self-esteem, and depression in 400 college women aged 18 to 30 years. Depression was positively related to stressful life events(r=.21 p=<.01). Depression and stressful life events were negatively associated with self-esteem(r=-.67: r=-.11, p<.01; p<.05 respectively). Close relationships with women and men friends were each negatively associated with depression (r=-.24; r=-.16, p<.05). Close relationships with women and men friends were positively associated with self-esteem (r=.23; r=.20, p<.01). Forty nine percent of variance in depression rates in this sample was explained. After adjustment for degrees of freedom, a total of 49% of the variance in depression was explained by self-esteem and stressful life event. This investigation into the relationships among the variables influencing depression for college women is a critical issue as health professional interventions are those designed for specific populations to meet unique care needs and since young Korean women may be at considerable risk for depression.