I am going to reply to my own posting here with some info I found on Korean Air's site. This is what they list for award redemptions on Alaska:
Alaska Airlines
(Round trip, Mile)
Routes Economy First
USA/Canada 20,000 40,000
Hawaii 30,000 60,000
Mexico 30,000 60,000
No infant and child mileage discounts are applicable : The same miles with adults will be redeemed in case of seat occupation.
Ineligible flight range for award travel.
Only flight range AS 001-899 and AS 2000-2849 are eligible.
(It may be subject to the change according to Alaska Airline's regulations. Please, contact Korean Air service center for the detailed information.)
One stopover is permitted.
If this is correct it is quite a good deal.