This study examines the effects of peer victimization by verbal, physical, and relational bullying on Korean adolescents’ self-worth, disconnect to peers, school engagement, and academic achievement. A two-year longitudinal survey on 3,266 sixth-graders attending school in Seoul, Korea was used. Multivariate regression results controlling for socio-demographic characteristics as well as initial levels of outcome indicated that youth bullied by their peers experienced greater difficulties than non-bullied peers in terms of self-worth, disconnect to peers, school engagement, and academic achievement. Results revealed that youth experiencing relational bullying suffered from large negative effects on all four adjustment outcomes and that the negative effects of bullying were generally limited to the period of victimization with little evidence for chronicity effects. Limitations as well as policy implications are further discussed.