The axing was a bit over the top, but all in all the best S. Korean film I have seen for some time. Reminded me how great the story-telling can be. I would love to see more from this director - The Chaser and The Yellow Sea are quite strong first films for him.
I think this one needed a little bit of restrain by the final 15 minutes, the over the top violence presented as and in action sequences diminished the dramatic effect of the story, something that The Chaser, although very violent as well, was able to balance. Very very engaging though and with some incredibly tense set pieces.