This study explores factors that influence the general well-being (anxiety, depression, positive well-being, self-control, vitality, and general health) of low-income Korean immigrant elders by interviewing 206 older adults living in Los Angeles County and Orange County, California. Ordinary least squares regression results reveal that lack of English proficiency and longer residence in the United States were significant predictors of higher anxiety, higher depression, lower self-control, lower vitality, and lower general health among Korean immigrant elders. Losing a spouse was a significantly negative factor in vitality. Financial problems were significantly associated with lower positive well-being. Social support was a significant factor in lower anxiety, lower depression, higher positive well-being, higher self-control, and higher vitality. Spiritual coping was significantly associated with lower anxiety, lower depression, higher positive well-being, and higher vitality. The findings of this study show that low-income Korean immigrant elders are at high risk for psychological and physical health problems influenced by difficulties with the acculturation or adjustment and socioeconomic stress of living in a new society. The study discusses essential implications for culturally competent social work practice among low-income Korean immigrant elders.