I just returned from having watched this lovely film and I feel bad for having watched it without my friends. That's right, this is one of those films that young people should go to watch with their friends. However, it is not trashy Hollywood fare, rather the film moves from genre to genre with ease. It covers comedy, slapstick, drama, excruciating torture, gore, erotica and a plot so twisted it sometimes feel like a complete figment of the protagonist's imagination. Its a simple story of an accomplished author who tries his hand at writing erotic stories as an sport since it was banned in Korea at the time. In the process of writing these stories he uses people for inspiration. And then, there is also the plot where the king and queen get involved (you should get a fair idea where I'm coming from). So all in all, its total entertainment and an lovely film to watch with buddies. However it may not have lasting power and you may not remember it the following day, but you certainly will have fun watching it.
PS: The other person who's commented on this film has mistakenly identified the queen as the king's favourite concubine, which is incorrect since the film clearly indicates that the character is the queen's.