The release of Diablo III remained in purgatory while the South Korean legislators in charge of ratings debated on the game's rating in the East Asian country. As Blizzard planned to offer real money trading through the game's auction house system over Battle.net, South Korean legislators were unsure how to pass the game.
Due to the complications, Blizzard resubmitted the game for approval, this time omitting the game's real money auction house system. South Korea approved the game on January 13th—that's today.
The game is Rated M because of its inclusion of religious content (i.e. demons), minor drug use (potions, herbs), profanity, and animated violence.
The auction house-based real money transactions were not subject to review because they are not implemented in the South Korean version of the game at this time. If and when Blizzard implements the transactions in the future, the game will face a review from a different legislative body and not be subject to the ratings board.
Diablo III is now cleared for release in South Korea.