I will post some things about Korean Culture (as I know them to be). Anyone who knows more feel free to correct me.
Korean relationships between people is based on Harmony. To maintain this balance is very important to the point where people will give up something or not tell the truth.
Kibun has no direct translation. It relates to a persons mood and feelings. To hurt someones kibun is generally a terrible thing to do, although foriegners do get allowances made for doing it (to a point).
So Korean culture is much about the feelings of others. Trying to keep other peoples kibun intact while maintaining your own is actually quite a job.
To ignore kibun in Korea will generally lead to problems on your side. For example if you were to try and get someone to do something while their kibun is hurt, they are more likley not to help you.
The somewhat annoying thing (for westerners) is that it is very easy to hurt someones kibun by everyday actions. Slagging someone off, being argumentative, giving bad news, or ignoring Korean social rankings.
A very good example is that if person is to be let go, they will generally be told on the Friday evening and told not to return to work to finish up, because the persons kibun would already be hurt there would be no reason to make it worse having them work (this is good nunchi).
It is possible as a foriegn person to ignore kibun, but if you don't you will find you get more respect from Koreans.
Translation is eye measure.
To better understand how a persons kibun is, or what a person is feeling is called Nunchi. Koreans are taught not to make their true feelings shown so generally others have to use nunchi to guess how the other is feeling.
It is generally thought of as a sixth sense, but it is more looking at visual clues and understand what a Korean is really saying when they say something.
An example would be, If you are a boss of a Korean and you tell them they are doing a certain thing wrong in their work, they may take this to mean that you are not satisfied with all their work.
Or another. A Korean may say to you "Are you hungry?". They are actually saying "I am hungry, can we eat now?". So if you answer "No" it would hurt their kibun. The correct answer would be to ask the Korean what they want to eat.