This year it was become very apparent that as far as media and consumer products go South Korea is quickly surpassing Japan. The Gangnam Style phenomenon is the most significant result of the steady popularity reached by Korean media which has gained the attention of the world from its kpop and kdramas productions. And naturally Korean companies and creative types will want to expand their influence into other venues.
On the other hand, the usual staples of Japanese mainstream culture: anime, video games, jpop has been declining in popularity, and in several cases quality. Making thing worse has been the 2011 tsunami/earthquake which caused the Fukashima disaster. Creativity and culture in Japan might have suffered a blow as national safety takes precedence. In addition, its loss of market share in electronic products. Samsung is huge while Sony is losing billions each year.
Due to these developments, will most Western fans (casuals to otakus) of Japanese culture slowly start to change their interest to Korea when it becomes the "it" Far East nation. Or will they put very little interest to Korean originated products, and maybe even show some resentment. It has to made clear that both countries are very competitive with each other and have several conflicts, so it's not easy to be mutually supportive of both.