PHENOMENALITY: *marvelous*
MYTHICITY: *poor*
FRYEAN MYTHOS: *drama*
CAMPBELLIAN FUNCTION: *sociological*
I term the dominant function of WANGMAGWI "sociological" simply because the main plot involves aliens sending a giant monster down to 1960s Earth to kill all the humans and leave Earth free for colonization. While such a plot was a perfectly serviceable excuse for a giant-monster rampage, the writers seem confused about how to properly go about defenestrating the populace of a planet.
At the outset of the film, the unnamed aliens seem utterly confident that the Earth-people can do nothing to save themselves from the solitary, skyscraper-high creature-- presumably named "Wangmagwi," though I never heard the name used. The creature proceeds to rampage through Seoul, though its model-streets have been largely been cleared of people. So it's not clear how the aliens expect Wangwagwi to extinguish humanity. Keep stomping through cities and crushing people until, decades later, all the humans are dead?
Jets assault Wangmagwi's scaly hide with no effect, so the monster does have a Godzilla-like level of invulnerability. Yet when we hear Korean military men discussing the situation, they're reluctant to employ a nuclear bomb against the monster due to collateral damage. But if the monster succeeded in killing all the people in Seoul, then the Koreans could bomb him, right? Not until the climax does the subtitling for the aliens *seem* to indicate that Wangmagwi actually CANNOT survive a nuclear attack. Indeed, when the giant finally wanders out into the Korean countryside, the military makes one last jet-attack while planning a nuclear strike. At that point, the aliens just throw in the towel and remotely cause Wangmagwi to self-destruct. What? Was this the aliens' first defenestration? If not, clearly they suck at it.
There's just enough combative action to keep the film in that domain, though the Koreans weren't able to make Wangmagwi's rampage as effective as even the lesser Japanese efforts. The humans are pretty forgettable-- a couple of clowns who bounce routines off one another while fleeing the chaos, and a young couple whose wedding is interrupted by the big critter. In fact, Wangmagwi channels his inner Kong by kidnapping the bride-- though technically the aliens are controlling the monster remotely, so her kidnapping makes even less sense than if the giant did it of his own will. The only human who has a good arc is an urchin who somehow clambers onto the giant's body, manages to work his way into the creature's ear and wound he inner ear with a knife. He also detaches the device with which the ETs control the monster, though this doesn't have much effect on the outcome. A heroic pilot rescues the boy and the bride before Wangmagwi destructs.
This kaiju flick was lost for a long time. In terms of film history, I'm glad a copy was found, but it's pretty small beer.

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