For a more honest and sober take, South Korea still offers stiff competition to China in the short term, especially now that they've got the US (and any country that follows the US) market mostly to themselves. Different from Japan, their industrial competitiveness has not yet fallen off a cliff and they are still fast followers in almost every industry (contrary to Japan that is basically stuck in the early 2000s).
Consider smart phones, TVs, ship building - Korea is still holding onto market share outside of China, and in ship building due to Trump's imposed fees, they've even pulled ahead of China in new orders this month.
It is not a consistent, systemic collapse like most of Japan's industries. And this is also shown in entertainment industries, where Korea continues to be strong competition in things like dramas, movies, video games, etc. In short, their national vitality has not yet been spent and Koreans are harder workers than both Japanese and Europeans. Yes, it's down hill from here, but their collapse will come mainly from demographics in the next 10-20 years, not immediately.
