gangnum is a place in korea where the rich live (not talking newly rich, but mostly 2nd gen trust fund babies)... the whole video is making fun of the wannabes trying to live the "gangnum style" where poor koreans would rather buy an expensive cup of coffee while eating ramen at home while also depicting how shallow that upper class life style is where traditional values have been replaced by materialistic ones...
u have the guy pretending to live the gangnum style, but in the end hes just in a childrens playgroun, or pretending to be playing polo but hes just on a merry go around... the same theme is repeated over and over again throughout the video like the pdiddy wannabe red carpet theme but instead of confetti its trash that is blowing on them... or keeping up with the jones scene where the 2 gangnum style ppl are dance fighting with each other... with the guy only later realizing that he found true love not in the gangnum but in a lowly subway...
the actual lyrics of the song is just a bunch of nonscense...
he is a comedian and has a few records b4... but this is the first time hes so "in ur face" commentary about the superficialities of the korean lifestyle... the dudes really well educated (went to school here in the states) and is a very talented musician/artist... he writes his own songs, directs his own shit, etc... which is hard to find in the assembly line music industry common in most asian countries...