In the last 16, the Socceroos came away with a convincing 4-0 triumph over Indonesia, while the Koreans levelled their match with Saudi Arabia at one, deep into stoppage time, advancing 4-2 on penalties.
Match preview
Throughout the opening stage, the Australians got by with some compact, sharp and resolute defending, but in their previous encounter, they came to life in the attacking third.
Their four goals scored versus Indonesia were as many as they managed in the group phase and it was the second-most by the Socceroos in an Asian Cup knockout fixture since destroying Uzbekistan 6-0 in the 2011 semi-finals.
Graham Arnold's men are now unbeaten in eight successive matches in all competitions, outscoring their opponents 20-1 over that stretch.
Their round of 16 clash was the 50th game for Arnold as Socceroos boss, and the man who won two A-League titles as a manager has only suffered a combined seven defeats in his two stints as men's national team coach.
Since making their debuts at the Asian Cup in 2011, Australia have only conceded a combined three goals in all of their knockout fixtures, never allowing more than one goal in a single game beyond the group stage.
They have not beaten South Korea since the 2015 Asian Cup when they won a drama-filled final in extra-time, 2-1, on home soil, the one and only time that they have lifted this trophy.
A dogged and determined South Korean side showed tremendous resilience in the last 16, scoring in the ninth minute of stoppage time and then maintaining their composure from the penalty spot.
Jurgen Klinsmann's men had to combat a partisan crowd who were pro-Saudi Arabia, but in the end the Koreans got what they deserved, firing eight efforts on target and eventually breaking through.
Friday will be their second successive trip to the quarter-finals of this competition, with the Taegeuk Warriors suffering only one previous defeat at this stage of the competition, losing 1-0 to the eventual champions Qatar four year ago.
Four of their six goals scored at the Asian Cup this year have come beyond the 80th minute, three of which occurred in stoppage time.
The Tigers of Asia had not conceded in seven successive fixtures leading up to the start of this tournament, but they have given up seven in their four Asian Cup affairs.
They have lost just one of their last five competitive fixtures versus the Socceroos, posting three clean sheets over that stretch.
Australia Asian Cup form:
W
W
D
W
Australia form (all competitions):
W
W
W
W
D
W
South Korea Asian Cup form:
South Korea form (all competitions):
Team News
Gethin Jones was taken to the hospital for scans after sustaining a groin strain in the round of 16 but has been cleared to play in this quarter-final fixture for Australia, Lewis Miller and Thomas Deng are expected to recover from their illnesses and Mitchell Duke came on as a substitute after missing their previous encounter with hamstring injury.
Arnold made two changes to his starting 11 in their knockout victory this week, with Jones and Bruno Fornaroli replacing Nathaniel Atkinson and Kusini Yengi.
An own-goal by Elkan Baggott put the Socceroos in front versus the Indonesians, Martin Boyle notched his second of the competition, while Craig Goodwin netted their third goal and set up the fourth, which came courtesy of Harry Souttar.
Klinsmann made just one change to the Korean starting 11 versus the Saudis, bringing in Jung Seung-hyun to replace Cho Gue-sung.
Son Heung-min made his 121st appearance for the Asian Tigers in their previous fixture and on Friday he can draw even with Yoo Sang-chul for the sixth-most all-time caps, Jeong Woo-yeong is now at 20 caps, while Kim Jin-su reached 70.
Gue-sung equalised for South Korea late into their round of 16 clash, Jo Hyeon-woo stopped two Saudi penalties and Hwang Hee-chan slotted home the winner from 12 yards away.
Australia possible starting lineup:
Ryan; Atkinson, Souttar, Rowles, Behich; Metcalfe, Irvine, Bos, Goodwin; McGree; Boyle
South Korea possible starting lineup:
Hyeon-woo; Seung-hyun, Min-jae, Young-gwon; Tae-hwan, Jae-sung, In-beom, Hyun-seok; Kang-in, Woo-yeong; Heung-min
We say: Australia 1-1 South Korea (Australia advances on penalties)
South Korea have been remarkably resilient throughout the tournament however we believe their luck will run out against a Socceroos side that have shown discipline, poise and consistency throughout this competition, which is why we are leaning towards them narrowly advancing.