A few years ago, someone nicknamed twig prepared a set of translation patches to turn the Korean-only release of Mega Man X7 in English. While not perfect, these patches do a great job of making the game more enjoyable and easy to follow.
Since the initial release of these patches, the provided download links have become less reliable. As such, I'm taking the liberty of reposting the files in the Downloads section. You'll find both patches near the bottom of the page. Twig's original blog post offers screenshots and more information.