No, but they are trying to increase birthrates.
Basically from what I gathered; the man who proposed the law as well as some (nearly half, at least) of the people who approved it weren't known for being the most faithful to their spouses, and they legalized it in order to cover up their affairs easier, dispite the fact that the government was actively trying to crack down on Back Alley Butchers - again, do to the decreasing birth date and aging population.
But I've only read the news reports that were written in Korean, and that's not my first language, so I might be wrong.