Well the document itself doesn't make you do anything. Now that I think of it the MOE does have good intentions with it. However, our anger is a result of a cultural difference where we believe that stuff outside of school shouldn't be handled at all by our employer.
If the document bound you to any obligations I wouldn't have signed it. However, it basically is a pinky promise.
jryanaustin, what sort of bike do you have? It's best to get legal (regardless of warnings from the MOE). If you have a 50cc, you just need a Korean drivers license. If you have a 125cc, Korean drivers license plus registration (cheap) and insurance (not cheap, not expensive). If you have 250cc or above, you need the reg, insurance, and a proper motorcycle license (which requires a test).
At the very least, get your bike registered (if it's 125cc or above). If you bought it without papers then you CAN'T register it or get insurance and you'll be forced to ride illegally. If you get stopped by the police you'll likely be okay (street cops are great here) BUT if you cause an accident (or get blamed for one by a car driver) you'll be in pretty big trouble.
Janitor, perhaps you could set up a Facebook group with info about license acquisition, insurance, registration, etc. A lot of the info out there is outdated.
Koradian, defensive riding has prevented a ton of close calls in this country. Though all of them were in heavy traffic going slowly city where the chance of serious injury is pretty low. Also, riding a loud motorcycle helps.