Under the theme of "French Black",[1] the album departs from the singer's girlish image which established her as the "Nation's Sweetheart", by attempting various styles of music such as swing, jazz, and bossa nova.

[3] Modern Times contains thirteen tracks, including IU's number-one hit "The Red Shoes" and her self-composed song "Bad Day".

The album was re-released as Modern Times - Epilogue on December 20, 2013, and contained the single "Friday" as well as the track "Pastel Crayon" from KBS's television series Bel Ami where IU starred as a lead role.

[14] "The Red Shoes" (Korean: 분홍신) the album's lead track,[15] is a song with big band sounds, dramatic developments, and elaborate choruses.

Comparing to red shoes, it tells about a woman who begins her journey for the once-brilliant and summer-like days she had with her lost love, counting on her fate.

[18] The video, directed by Hwang Soo-ah, features cameo appearances from Yoo Hee-yeol (also known as the sole member of one-man project band Toy), electronic duo Peppertones, and models Fhi Fan and Jang Ki-yong.

[26] "Friday" (Korean: 금요일에 만나요; RR: Geumyoil-e Mannayo), is the lead single for the repackaged album Modern Times - Epilogue.

[27] The self-composed song is a bossa nova tune with a catchy medium-tempo melody, and sings about delirious excitement of a couple who just had a crush on each other.

[28] The singer's labelmate Jang Yi-jeong, a member of boy group History participated as a featured artist (He also starred on its music video, as a guy who has a one-sided love for IU).

[36] On October 7, 2013, prior to the album's release, IU presented her first-ever comeback showcase at K-Art Hall in Olympic Park, Seoul, performing her brand-new songs including "Modern Times", "Between the Lips (50cm)", and "The Red Shoes".

The Korea Herald complimented the album writing: "... vintage sounds and modern effects are put together artfully, forming a fresh but familiar compilation of songs.

"[52] Seoul Beats also gave a positive review, explaining "With its jazzy, big band sound, IU provided a breath of fresh air to the K-pop scene...