The element is called Super Filter Element (Part. No. 1504-SA013). The element is claimed to be a 2-layer, dual density, wet-type polyurethane filter that uses an impregnated viscid fluid to attract and stop damaging dirt particles from entering your engine. This bonded fluid allows use of a larger pore design for maximum airflow without sacrificing filtration.
Upon inspection of the element, one can clearly see the dual layer of the filter element. There's a rougher thinner layer for the outside and a finer thicker layer for the inside. Since the element is out, I took the opportunity to clean up the insides of the HKS Super Power Flow with a wet cloth. The MAF (Mass Airflow Sensor) hot wires can be clearly seen upon the removal of the element. Took a good look and everything looks fine and dandy. :)
Fitting in the new element, one would have to squeeze it into the HKS Super Power Flow 'cage'. Once in, just bolt it back on and voila!, it's as good as new.
At the rear of the packaging it is recommended that the element be changed every 3,000 to 5,000km. Looks like thats gonna be a costly investment as the element in itself isn't that cheap. :(