Yup, used to see these things all the time when I lived in Korea.
They also made the "Musso" and a Jeep clone, among others. I wasn't into off-roading but don't recall ever seeing any Korean 4x4 modified for offroad. The place is entirely mountainous and would be a natural for off-roading.
Korando is a "portmanteau" of the words: 'KORea cAN DO'.