It seems to me that production standards in the Far East are improving all the time. Japan kicked it off, then they shifted to Korea to keep costs down, now in turn it's moved to China and Indonesia.
I think the main reason a Korean Tokai (for example) is not considered as good as a Japanese one, and a Chinese one's not considered as good as a Korean one, is that they're aimed at very different price points. So the parts and materials are cheaper, less overall time is spent on production, and inevitably the end product isn't as "good". But there's very little wrong with the actual workmanship.
There's some pretty high-end stuff coming out of Korea, and even China, nowadays.
Exactly the same with Fender USA and Mexico, it's all about keeping costs down. The Mexican stuff seemed a bit rough and ready in the early days, but in terms of workmanship they're running the USA pretty close now.
As always, "you get what you pay for" pretty much applies, but most mid-price Korean guitars seem like very good value in my limited experience.
