South Korea's 'real-name verification law'

About a week ago, I moved to South Korea. While trying to share some video with the homebase (check my other blog). I wanted to upload some video's to youtube, only to be presented with the following message:

Youtube uploading in korea

After binging it (or is it bang? I prefer bang) it turns out that any site with more than 100.000 users must require users to identify themselves with their real name and an 'identification number'. Youtube has instead blocked commenting and uploading altogether for South Koreans. I can't find much information on the subject other than some ZDnet articles.

I find this a bit scary. I personally enjoy my anonymity on the net.