A Korean soccer cheer, borrowing elements from other cheers around the world, namely "Ole!" from Spanish and the "Oi!" part from Aussie Aussie Aussie! Oi oi oi!, or possibly from somewhere else (I'm sure plenty of people use "Oi!").

"Seung" means "victory," while "Pil Seung" (aspirated P) means something like "certain victory." The song is pretty simple. I don't know enough about music to accurately describe the tune, but the words are:

"Oh~~ Pil Seung Ko-re-a
Oh~~ Pil Seung Ko-re-a
Oh~~ Pil Seung Ko-re-a
Oh ole ole! Oi oi oi!"
(repeat)

Korean pop star Yoon Do Hyun did an immensely successful K-pop version of this song during the 2002 World Cup. I don't even want to know how many billion Won he made from that.