Is The Cover Of The ‘Bubble Sisters’ CD Racist? [POLL]

I have a friend in Korea who recently sent me fun package full of things you can only find in Korea. There were socks that featured the top music groups at the time, some Korean video games and he also included this CD. The Bubble Sisters is a Korean pop group that actually don't sound bad, but what threw me off was this cover art - the girls in full black-face. Is it racist?

They even went so far as to wear black-face make-up during one of their live performances

I'm not exactly sure of the reason for doing this. If you think you have the answer, tell us in the comments below.