AcroGames, an upstart Korean game development company, has licensed Epic's Unreal Engine 3 for a new game. Epic told Gamasutra that the new game is an online title for the PC. There are lots of different kinds of online titles, but AcroGames is partly comprised of former Lineage II team members, so it's a good, educated guess to suggest that the new title is an MMO. Also, Lineage II was developed using the previous Unreal Engine iteration.
Epic VP Jay Wilbur was quoted in Gamasutra, saying: "AcroGames is a promising team comprised of top talent and we look forward to working with them. We are committed to supporting the Asian game market with best of breed development tools, and our agreement with AcroGames marks a significant achievement in this effort."
In an interview published just yesterday, Epic's Mark Rein described the language-barrier-related challenges Epic is having with supporting its engine in non-English speaking countries (specifically Japan, in that article). One wonders if they'll run into the same troubles when working with a Korean studio.