Yes, the concept has arrived in Korea, obviously in its complete form. If you look into the meaning, though, it's not meant to be an excuse to go on a shopping spree or act out of desire, contrary to how the term is often used. Instead, living the YOLO lifestyle means stepping out of your comfort zone and raising your standard of living by constantly challenging yourself. Far from making a wish list of stuff you desire, it's compiling a bucket list to accomplish while living.
Compared to the previous generations, many of the millennials have been granted with the privilege of having safe environments unaffected by massive wars or disasters. With changed perceptions on value, more of them spend money to gain desired experiences rather than material possessions. Another element, marriage is also no longer a norm but a choice. Those without the pressure to support a family are more likely to have the freedom to spend time and money in areas that aren't directly linked to survival.
When considering the real meaning, YOLO does sound like stuff of lifestyle philosophy. A following question would be, how much freedom are the millennials of this country really granted with in order for them to act in ways that are satisfying for their life overall. With the dire social conditions for the young generations of the country, the range of choice doesn't seem to be all that promising. Given that, what we can take from this innately positive concept may go as far as learning what we want, doing what we want and loving how we want — with all we have and imagine because, we really only live once.