Objectives: This study aims to assess the status quo of depression among Korean physicians and identify stressors and psychiatric assets related to it. Methods: The questionnaire was designed to assess depression, stressors, burnout and psychiatric assets. 343 physicians were included in the analyses. Results: Physician depression in Korea was found to be related to several daily life stressors and occupational stressors. It was also related to higher burnout and lower psychological assets. Physicians who reported workplace problems, familial problems, and mannerism were at higher risk of depression while who reported passion (in psychiatric assets) were at lower risk of depression. Conclusions This study identified factors affecting physician depression in Korea. Further research would benefit physicians and their patients by identifying and testing various, including personal and organizational, intervention methods.