I cannot find much about this group on the internet. UV is a recently formed two man group consisting of Yoo Sae Yoon and Muzie. They teamed up with producer and singer J.Y. Park (박진영) for this song and this video. The song is titled "Itaewon Freedom" and it is a fusion of disco and retro 80s.
It is certainly one of the more distinct kpop videos I have ever seen. If you don't know, Itaewon is the foreigner district in Seoul and I am guessing these guys were trying to capture the feel of the place in the 80s.
Specila thanks to Brian for finding this for me! Itaewon Freedom is a parody/tribute video to "Harlem Desire" by the London Boys. Check it out.