While this isn't the first MH game for South Korea, it wil be the first main game localized in Korean.
Previous releases such as Monster Hunter Portable 3rd and Monster Hunter Freedom Unite were either in Japanese or English. Playing a game in a language you speak natively is a big plus and there have been more Korean translated games like the recent Final Fantasy titles and the Persona series
Before Monster Hunter 4 comes out in Korea, Nintendo will release Monster Hunter 3 Ultimate as an eShop download. It’s in English, but it fits in nicely with Nintendo of Korea’s digital import store