The story is this, in Japan shortly before a teenage girl comitted suicide, she drew this picture, scanned it and posted it online. In korea this story broke out and it spread like wildfire. There are various posts around in korean forums that say that the viewer gets drawn to the girls blue eyes, they say they can detect a hint of wraith and sadness within the eyes. Maybe the girl had died with so much sadness and anger that her spirit haunts the image, or maybe the image provoke sadness, similar to the song 'Gloomy Sunday'.
The freaky bit is this, they say it is hard for a person to stare into the girls eyes for longer than 5 minutes, there are reports that some people have taken their own lives after doing so. People say the picture changes, as you view it there is a hint of a growing taunting smirk appearing on the girls lips or a dark ring grows around the girl or her eyes.