Re: Busan to Jejudo - Overnight Ferry?
The ferry from Mokpo to Jeju may be faster than the ferry from Busan, but what you are not accounting for is the transfer time from Gyeongju/Busan to Mokpo. That is a ~5hr ride, so now your travel time is possibly even longer once you consider transfers and stops.
There are a few flights from Jeju air and Busan Air that go to Jeju. As a starting point of Gyeongju, I'd look for availability from Ulsan (30 minutes south of Gyeongju), Gimhae (Busan's airport about 2.5 hours south of Gyeongju) or Daegu (about 45 minutes north of Gyeongju). The flights to Jeju would only be ~40 minutes. Prices would normally be cheaper than the ferry too, but please note that holiday season in Korea is extremely short and expensive since "everyone" take vacation on the same days. Best if you can to travel on the weekdays.
There is no KTX from Mokpo to Seoul. Fastest route would be to fly from Jeju back to Seoul directly.
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