I think a better translation would be something like “taking photos which violate privacy is forbidden” which likely really means “be respectful of people and don’t take photos of them/their living spaces, etc.” Korea is more strict on personal privacy than say, Americans are. If you watch Korean news you’ll see them blur peoples faces out who are in video clips they use, even entire crowds. I see Korean YouTubers do the same thing.

Edit to add that on the bottom of the sign I can see it’s posted by a local neighborhood residents association, so yes, I’m pretty sure it’s asking you not to take pictures of peoples homes or of the residents and to be respectful of their privacy.