While Capcom Korea is developing Deep Down server and Breath of Fire 6, Interesting rumor was found by inven.co.kr. Most of info and speculation by inven.co.kr is based on Capcom Korea's Job posting pages. This is summarize of the article by inven.
To recap briefly, "Capcom Korea is developing Monster Hunter Frontier Online 2 (Tentative name) that powered by Unreal engine 4 with Korean Developer. This title is targeted to Japanese market with 2016 release"
While It's not sure whether this is sequel to Monster Hunter Frontier online or another new title.
At least, Using Unreal Engine 4 and developing Monster Hunter related title by Capcom Korea is true.
And There are also interesting words from Game Job forum in korea. According to job hunters on the forum, Capcom Korea's new Monster Hunter title is not "Monster Hunter Online" by Tencent, It has better graphics than china one. Capcom headquarter is very satisfing on This title.
I don't know this rumor is deserve to go new thread. If there is requests for making new thread, then I'll make this. I want to translate whole article, but I don't want to see my post to be blocked by flaw translation. ;(
Source:
http://www.inven.co.kr/webzine/news/?news=128965
http://www.gamejob.co.kr/community/talk/read.asp?page=1&idx=15898&B_S_idx=0&talk_stat=T3&Search_Name=&Search_String=
http://bbs2.ruliweb.daum.net/gaia/do/ruliweb/default/etc/101/read?articleId=24773154&bbsId=G005&searchKey=daumname&itemId=421&sortKey=depth&searchValue=%25ED%2580%2598%25EB%2584%25AC