Yes he is. If you read Chinese I can show you the news articles. He did something like this a couple years back but I think this time its for real. He says his pool winnings isn't secure and wants to find an alternative. Also he never graduated high school, and it is required that you have a high school diploma in Taiwan to be a registered pool coach/instructor.
I wouldn't be surprised if he doesn't want to deal with the stress of having to support himself with tournament winnings and gambling. Life as a pool player is good for some, but he doesn't seem to embrace the pressure. Just some of my observations from watching him for over 10 years, starting at age 12 LOL
He hasn't participated in any tournaments since the WPC I think. Yea, Ko Pin Yi is 21 now and still growing as a player. I hope to see him to try to come to America to make a bigger name for himself, although he is already successful in the Asian tournaments. Unlike Yang, his dad brought him to become a professional pool player which I think will result in a better and longer lasting career, even though he didn't have the crazy early career successes that Yang had in his teens.