Indeed, the tittle said; Financial Authority "Prohibition of Funding through Foreign Currencies (ICO)
Actually, it will not be the same as China ban ICO, as Korean really support cryptocurrency and has issued regulations about bitcoin and exchanges.
Most countries still allow ICO, and government just trying to protect investors as precaution act from scammers or fraud activities.
Strict regulations will ensure every company or project which intend to collect funds from investors have to fill few documents to make sure they are legit and meet the requirements.