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The current study sought to identify different types of South Korean adolescents' time-use patterns across various daily activities, compare the levels of psychological well-being among the identified groups, and examine the association between daily time-use patterns and family socioeconomic status. By using the fifth wave of Korean Children and Youth Panel Survey, the data of 1,764 eighth grade students currently living in two-parent families were analyzed using a mixture modeling. The best fitting model revealed four types of time-use patterns: (1) Study Hard (2) No Hagwon, but Independent Studies (3) Only Hagwon, and (4) No study, Skewed toward Entertainment. Differences in the level of psychological well-being were found for different time-use types. Moreover, the probability of being included in each type varied according to family socioeconomic status. The results demonstrated the role of family socioeconomic status in adolescents' time-use patterns and verified the differences in the level of psychological well-being according to how adolescents used their daily time.