2ch Finevu SQ 300 ( FullHD + HD ). GPS. LDWS.

Interesting looking camera - I'm wondering if format free means it automatically formats the card weekly etc like the Lukas range offer?

It's not a bad idea as would save a lot of problems folks get out there with various other cameras if they don't format the card every so often.

Sounds like they're giving MLC cards away too - that's FineVu and Transcend doing that.

Guessing but looking at the Korean sounds like 1080p for the front channel and 720p for the rear?
Correct, 1080 front and 720 rear. This has been a recent trend on most Korean dashcams. They say that stability is more important than having both channels 1080, so they do FullHD + HD instead of both FullHD. The only exeption I have seen is from latest Thinkware using 2Ch 1080p.

First time I heard about format free system being used on Korean dashcams was about 1y ago by Blacksys BH-300H

They call it in Korea: TAT.
For the past 12 month or so I have seen 5-6 Korean dashcams with TAT ( format free ) systems.

TAT system is free from format unline FAT system. It makes memory card lifespan loner. Also minimize the Dead-secor thanks to formatting.
TAT Format Saving System makes it possible to record 1 second basis without super capacciy ( back up battery ).