Viki itself hosts A LOT of shows which are not produced by KBS, SBS or MBC. So, it's impossible that all shows are moved to KOCOWA.
As @mas4 says, KOCOWA promises to translate to English by their own team. They probably mean new shows.
And that's exactly what I was thinking might become a problem...
Let's say a new show comes to KOCOWA and it's translated by their own team from Kor-Eng.
And then let's say that America(s) can watch it normally and there is no problem there.
And let's assume that Kocowians will translate to Spanish and Portugese, too.
1) question: Will this content be in any way available to all the other regions?
If we assume that that is exactly the point of Viki-KOCOWA cooperation, that Viki hosts these shows for regions other than Americas...
2) ...will other language mods get the English translation from KOCOWA?
And if that is the case,
3) ...will the OL mods and subtitlers still have to pay VP Plus to even work?
Since all that seems highly unreasonable, I have to conclude that new KOCOWA-exclusive content will probably not be available to other regions Or it will, but only with English subtitles. And that would beat the whole point of our Viki.