Korea times article here.
My $0.02? I think it's not a bad move. I'd take a "young Korean teacher...with overseas experience" any day, over a fresh out of uni, completely untrained Native Speaker. However, perhaps a far better idea is the public schools requiring a Celta for all English teachers, both foreign and Korean. I think there are very, very few Koreans who could pass, simply because their language skills are not up to speed. From what I've heard, the "'Teaching English in
English certification system of English teachers" is a bit of a joke.