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Chung secured an astonishing 7-6(4) 7-5 7-6(3) upset over Djokovic on Monday night.
"He has always been my idol, when I was young I always tried to copy him", Chung revealed in an emotional on-court interview.
"I was just honoured to play Novak again."
Chung was also given the opportunity to address the audience in his native language on court.
Novak Djokovic, one of the biggest names in tennis, was again struggling with an elbow injury.
"Towards the end, it started to hurt more", the Serb said. He hadn´t played any competiteve tournaments ahead of the Australian Open, since Wimbledon 2017.
"Of course it´s disappointing to go out in the fourth round. But it was a good tournament. I am very grateful that I had the chance to play here."
Just like last year, when he suffered an early defeat against Denis Istomin, Djovokic lost to a guy who is known for wearing glasses.
Chung is only ranked number 62 in the world, but he is certainly a man on the rise.
He recently claimed the trophy for the inaugural ATP NextGen Finals in Milan.
At only 21, he is the youngest player left in the draw.
8 men, 8 women left
The South Korean, who was already the first of his country to reach the round of 16, will now face US debutant Tennys Sandgren in his quarterfinals.
With the US guy, who overcame world number five Dominic Thiem in a thrilling five-setter, the quarterfinals are set:
After day 8, all tickets for the quarterfinals are now booked, also in the Women´s draw.
2016 champion Angelique Kerber will face US Open finalist Madison Keys
Australian Open debutant Elise Mertens plays world number four Elina Svitonina
Spanish powerhouse Carla Suarez Navarro will meet WTA Finals champion Caroline Wozniacki and
Current world number one Simona Halep will fight for a spot in the semifinals against former number one Karolina Pliskova.