I'm sorry, I'm not quite sure about the specific regulations regarding PayPal in South Korea. As a professional practitioner in the field of cryptocurrency and finance, I deal primarily with digital assets and financial markets, rather than payment processing services like PayPal.
However, generally speaking, the use of PayPal and other similar payment processing services is often subject to local laws and regulations in different countries. Therefore, it's important to check with the relevant authorities or local laws to determine whether PayPal is allowed in South Korea.
If you're interested in using PayPal in South Korea, I suggest you contact PayPal's customer service or local financial regulatory authorities for more information. They should be able to provide you with the latest and most accurate information on this matter.