The purpose of the current study was to investigate a two-stage model in which parent-related stress and hopelessness each served as mediators of the relationship between perceived parental bonding and South Korean adolescent peer victimization. This study also examined whether the mediating relationships differed by the gender of parents and adolescents. A casual chain with three links and four sets of variables were analyzed using structural equation modeling. Data were collected from 800 adolescents attending 10 middle schools in the Busan region of South Korea. Results indicated that both maternal and paternal parental bonding were negatively associated with stress, stress was positively associated with hopelessness, and hopelessness was positively associated with South Korean adolescent peer victimization. Most importantly, the significant negative associations between both maternal and paternal parental bonding and peer victimization were mediated by both stress and hopelessness. Furthermore, gender differences in these relationships existed for both parents and adolescents. Limitations and implications to practice were discussed.