Is this like a Korean version of World Amateur Go Championship?
Which one competes at a higher level? or are they about the same?

If there's a difference in the level of the tournaments, it takes a really good eye to see it.

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Occupy Babel!

There may or may not be a higher level between one vs. the other, but even if there were, it could vary from year to year.

Both events are good ones to aim at participating in, someday.

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be immersed

Both are similar in the level of the players participating.

The KPMC uses 30m + 3x30s byoyomi. The last two years it has used 7 rounds, spread over two days. It used to be 8 rounds, just like the WAGC, spread over more days.

The WAGC always used 90m main time, but has sadly switched to one hour this year. It still runs 8 rounds in 4 days.

Do you know about the latest sponsorship situation? WAGC used give plane tickets to/from home country, but not anymore due to JAL not sponsoring anymore. Or did they somehow replace such sponsorship afterwards?
What about Korean PM Cup; do they give out tickets?

well, they didn't give ticket in the last WAGC...
(my friend goes there as my country rep n that's what he said)

about KPMC, well, i don't know the newest condition but the info in FII (indonesia igo fed) haven't changed since 310510. KPMC still give the rep ticket. sadly, i don't know the detail wether they give the money before u go or after u arrive

Starting the 31st WAGC each country or player will have to pay their own ticket

Uually at world championships and other such events for that tickets are promised to be paid and unless the specific ticket is sent to the player, the player has to buy the ticket and then during the event he gets cash in some currency for the ticket without having to ask and rounded up generously. He sometimes gets some extra expenses money, too, which was not promised.

However, I do not know what happens if a player has bought a non-refundable (the common thing!) ticket and he cannot arrive at the event because of wheather, volcano, plane delay, illness or visa trouble...

That's what cancellation insurance is for, isn't it?

No longer for the WAGC still apply for KPMC

I asked several agencies for that. Typically they insure only against illness, not the other incidents. (Or the insurance would be by far too expensive.)