Its not fully Korean actually. Of the 3 groups associated with it, one is fully Korean and 2 are "Pan Pacific Rim" which means influenced by a number of asian countries as well as groups in the US.
It will be run via K2 network which is saying they have a variety of payment options (buy the game and play for free, get the game free and pay to play, get the game free and play for free but with limited access to content, buy the game and pay to play with premium services as well).
It does look interesting though. Because I don't have enough on my plate as is I went ahead and signed up for the beta too. ^_^
Here's the main site if you don't have a premium fileplanet or preorder account for the beta.