Best suited only for Korean travelers
Although this hotel is friendly to Westerners, it obviously caters to Korean travelers. The front desk staff whom I spoke to all spoke fluent English and Korean, and some spoke Spanish to converse with the cleaning crew. Most of the signs in the hotel were in both English and Korean.
There were few amenities, consisting of a small microfridge and tiny coffeepot. During our stay, they also installed a cable box in our room, giving us access to a few hundred cable channels (including lots of Korean ones). There was a small, moderately priced Korean restaurant on the first floor, as well as a karaoke bar (I think there was a bar or conference room on the 2nd floor as well). The rooms had decent wireless internet.
Other than that, there were no laundry services (except dry cleaning), bathtub, gym, in-room safe, or pool. Our room (2nd floor) and our in-laws (3rd floor) were both woken on different nights late in the evening by people singing karaoke in the bars or conference room, which was a little bothersome. 
Our room was a bit dated, but the hotel seemed to be slowly renovating several of its rooms. The door locks used very old-style keycards with holes in them (similar to "punch cards" from the '70s? hard to describe), and the doors would slam shut noisily as guests left their rooms. Other than the comfy king bed, the only seating in the room was a small footstool to sit on while at the computer. No real desk to speak of -- just a 1'x5' plank beneath the TV to sit and work at. A small desk with a proper chair in the corner would go a long way. Our room did not look nearly as nice as the professional photos on the website.
I wouldn't say the hotel is in a great neighborhood. I felt safe with the nighttime security guard in the lobby, but he did have to regularly run off bums and beggars from the front of the hotel.
Bottom line: If I were a Korean traveler and didn't speak any English, I'd probably rate this at least a 3. It'd also be a decent choice if I were attending a conference nearby or had business to do in nearby Koreatown. In my case, though, I'm sure I could've chosen a lot better nearby for a similar price.