머릿고기 means "Head meat." It is the same thing as head cheese, as it is known in many Western countries, and is comprised of a mix of various tendons, muscle and ligaments from the head/face of an animal. In this case, this is head meat from a pig.
The various meats and parts are all mixed together and molded into a brick and it solidifies into a solid piece which is then sliced.
This specific video is about the "head cheese" that I bought from a CU convenience store in my apartment building. You can buy this for around 7,000 Won, which is roughly $6.50 USD. It's a tasty beer snack for you to munch on while drinking with buddies and sitting outside of a 7-11 or CU convenience store.
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