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“공부해요” (gong-bu-hae-yo) means “I study” or “I am studying.” It is the polite present tense form of the verb 공부하다 (gong-bu-ha-da), which means “to study.” So, 공부하다 is the base form and when conjugated into the polite present tense, it becomes 공부해요.
Notes: In Korean, the subject can be omitted if it’s clear from context, so “공부해요” can simply mean “I study” or “you study,” depending on the situation.