There is only one way to describe the video, a Korean MMO where battles are SHMUPs. Think Sigma Star Saga on a grander scale and fused with WoW elements. Now that your panties are all wet, remember that this game will probably never come out here in America. That is how it is. Korea is the land of the MMO so there are hundreds of awesome games that never make it here.
If you are wondering what those awesome games are, here is a site dedicated to that. I can personally speak of experience in Maple Story, Pangya, GuNZ, Kong Kong, and of course Gunbound. Oh how I lost many an hour in those games.