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With increasing mental health and behavioral issues among adolescents, our study aimed to understand these competencies in Korean elementary students (N=312) and their impact on academic performance and overall well-being. We investigated the role of growth mindset, self-regulation difficulties, and emotion knowledge in their mathematics and literacy outcomes, as well as psychological well-being. Using Confirmatory Factor Analysis and Item Response Theory, we examined the psychometric properties of the measures. Structural Equation Modeling explored the relationships between variables. Our findings revealed that a growth mindset predicts higher literacy and math scores. Students’ proficiency in self-regulation predicts better academic performance and lower psychological distress. These results highlight the importance of these skills in Korean students and the need for further research.