Overstay period Fine (KRW)
Less than 3 months 100,000 - 500,000
Less than 1 year 500,000 - 2 million
Less than 2 years 2 million - 4 million
2 years or more 4 million - 20 million
It appears the thinking was that every three months is worth about 500,000 won, and that each year is worth about 2 million won, although there is substantial discretion for officers, particularly in the last, largest category. Like any order, a fine is subject to a court review if you are willing to expend the money and time.
Source:
Immigration Control Act, Regulations, Attachment 7 (Standards for Determining the Amount of Fines), enacted February 29, 2012.
출입국관리법 시앵규칙 [ 별포 7] < 2012.2.29>별표 개정 범칙금의 양정기준