The film follows a sex therapist, who has never experienced an orgasm, as she is introduced to the people in an underground sex club called Shortbus.
Previously, the Korea Media Rating Board (KMRB) had twice given the same version of the controversial film the 'Restricted' rating which effectually bans films from being screened locally.
The film premiered in Cannes 2006 and screened to enthusiastic festival audiences in Pusan and Seoul the same year, matching the popularity of Mitchell's previous film Hedwig And The Angry Inch.
In consideration of mores in Korea and Japan, Mitchell had deliberately covered up genitalia, but the film still received the restricted rating.
Importer Sponge took the case to the courts and succeeded late last month in getting a judgement saying the restricted rating decision was against the law. Silverspoon will distribute the film.
Sponge CEO David Cho speaking to Screendaily said: 'A lot of other importers and distributors saw our fight as insane and foolhardy - each time we won a legal battle or resubmitted the film, there were repercussions.'
Cho was referring to the fact that he believes other films submitted by Sponge received higher-than-normal (and thus disadvantageous) ratings because of the company's persistence with Shortbus.
'But it wasn't good for the KMRB either since we submit dozens of films a year,' he said. 'The KMRB is a fundamentally conservative group and their giving this film a new rating seems more like an exception rather than something that will keep happening in the future.'
Cho says the film will get a March release. The number of screens is still under consideration but he says it will likely be between 20 to 30 screens.