After opening a Magic Set Box, you can obtain one item from an item set, such as Killer's Clothes, Killer Cap, Killer Falchion, Killer's Gloves or Killer Boots. Also, there are seven kinds of sets: Killer Set, Knight Set, Warrior Set, Priest Set, Wit Set, Seer Set and Magic Set.

All of these sets go with a rebirth class with the exception of the Magic set. The Magic set increases your mdef and a full set raises seal resist to 50% so it is a special set that any class can wear. Also all characters (rebirth and non rebirth) and pets (rebirth and non rebirth) can wear the set items as long as they are at the lvl requirement for the item.
Only when a completed set is worn will a player receive the socket bonus. The socket bonus is when a player adds diamons and/or spars to their equips to raise the stats. If a player wears a complete killer set then any diamonds or spars will be doubled while the completed set is worn. If any piece of the set is taken off the socket bonus is lost. For example: A character has a full killer set with a +50 diamond on the killer clothes. The killer clothes would look like this before being equiped:
atk +15 +25
spd +10 +25
(This is also how the equips will look when the full set is not worn. If you use pieces of sets with other equips you will not recieve the socket bonus.)

When the full killer set is equiped and you get the socket bonus the killer clothes will look like this:
atk +15 +50
spd +10 +50

For rebirthed characters: Rebirth capes also have the socket bonus but it only works when the character is wearing the full set of their rebirth class (ie. rb killer - killer set, rb seer - seer set). Wearing any other set will result in the socket bonus for the set but the cape will remain the same without the socket bonus.
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Here is a look at all of the sets and what equips make up each set.

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Killer Set
Set attributes:
Obtained at :LV50
(ATK+90,SPD+60)
After equipping the entire set, the socket bonus of Diamonds and Devil Spar will be doubled, but the socket bonus of Bomb Diamonds will not change.
- Killer Clothes
Improve atk speed & power.Set: double socket bonus.(ATK+15,SPD+10)

- Killer Cap
Killer's light cap. Set: Set: double socket bonus.(ATK+15,SPD+10)

- Killer Falchion
A true instrument of death. Set: double socket bonus.(ATK+30,SPD+20)

- Killer Gloves
Killer's favorite gloves. Set: double socket bonus.(ATK+15,SPD+10)

- Killer Boots
Killer's favorite boots. Set: double socket bonus.(ATK+15,SPD+10)

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Warrior Set
Set attributes
Obtained at :LV50
(DEF+90,ATK+60)
After equipping the entire set, the socket bonus of Diamonds and Devil Spar will be doubled, but the socket bonus of Bomb Diamonds will not change.
- Warrior's Clothes
Warrior's favorite clothes.(DEF+15,ATK+10)

- Warrior Cap
Warrior's fighting cap.(DEF+15,ATK+10)

- Warriors Sword
Warrior's favorite sword.(DEF+30,ATK+20)

- Warrior's Gloves
Warrior's favorite cuffs.(DEF+15,ATK+10)

- Warrior Boots
Warrior's favorite boots.(DEF+15,ATK+10)

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Knight Set
Set attributes:
Obtained at :LV50
(SPD+90,ATK+20,DEF+40)
After equipping the entire set, the socket bonus of Diamonds and Devil Spar will be doubled, but the socket bonus of Bomb Diamonds will not change.
- Knight's Clothes
Good defence and agility. Set: double socket bonus.(SPD+15,DEF+10)

- Knight Cap
Knight's forehead cap. Set: double socket bonus.(SPD+15,DEF+10)

- Knight's Spear
Used in combat and joust. Set: double socket bonus.(SPD+30,ATK+20)

- Knight's Gloves
Knight's favorite gloves. Set: double socket bonus.(SPD+15,DEF+10)

- Knight Boots
Knight's favorite boots. Set: double socket bonus.(SPD+15,DEF+10)

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Wit Set
Set attributes:
Obtained at :LV50
(MATK+90,MDEF+60)
After equipping the entire set, the socket bonus of Diamonds and Devil Spar will be doubled, but the socket bonus of Bomb Diamonds will not change.
- Wit Clothes
Channel off magic. Set: double socket bonus.(MATK+15,MDEF+10)

- Wit Cap
Sage's leather hat. Set: double socket bonus.(MATK+15,MDEF+10)

- Wit Gloves
Sage's favorite gloves. Set: double socket bonus.(MATK+15,MDEF+10)

- Wit Boots
Sage's favorite boots. Set: double socket bonus.(MATK+15,MDEF+10)

- Lead Wand
Improves magic attack. Set: double socket bonus.(MATK+30,MDEF+20)

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Priest Set
Set attributes:
Obtained at :LV50
(MDEF+90,SPD+40,MATK+20)
After equipping the entire set, the socket bonus of Diamonds and Devil Spar will be doubled, but the socket bonus of Bomb Diamonds will not change.
- Priest's Clothes
Good magic resistance. Set: double socket bonus.(MDEF+15,SPD+10)

- Priest Cap
Priest's holy crown. Set: double socket bonus.(MDEF+15,SPD+10)

- Priest's Gloves
Priest's favorite gloves. Set: double socket bonus.(MDEF+15,SPD+10)

- Priest Boots
Priest's favorite boots. Set: double socket bonus.(MDEF+15,SPD+10)

- Defence Wand
Good magic defence effect. Set: double socket bonus.(MDEF+30,MATK+20)

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Seer Set
Set attributes:
Obtained at :LV50
(SPD+90 ,MATK+60)
After equipping the entire set, the socket bonus of Diamonds and Devil Spar will be doubled, but the socket bonus of Bomb Diamonds will not change.
- Seer's Clothes
It can guide magic well. Set: double socket bonus.(SPD+15,MATK+10)

- Seer Cap
Prophet's leaf cap. Set: double socket bonus.(SPD+15,MATK+10)

- Seer's Gloves
Prophets favorite gloves. Set: double socket bonus.(SPD+15,MATK+10)

- Seer Boots
Prophet's favorite shoes. Set: double socket bonus.(SPD+15,MATK+10)

- Seer Wand
Improves agility and magic. Set: double socket bonus.(SPD+30,MATK+20)

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Magic Set
Set attributes:
Obtained at :LV30
(MDEF+80)
Set: 50% chance to resist seal.
- Magic Gown
Complete suit effect: resist 50% to seal.(MDEF+15)

- Magic Cap
The cap of a set. Set: 50% chance to resist seal.(MDEF+15)

- Magic Gloves
Defensive gloves. Set: 50% chance to resist seal.(MDEF+15)

- Magic Shoes
Magic shoes. Set: 50% chance to resist sealed.(MDEF+15)

- Magic Wand
Complete suit effect: resist 50% to seal.(MDEF+20)