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Ghana led 2-0 at half-time but allowed South Korea back into this morning's (AEDT) match as Cho Gue-sung scored twice in three minutes to level at 2-2. Mohammed Kudus turned the tables again in the 68th minute to earn Ghana victory with his second goal of the match in a heart-stopping contest.
Ghana, who lost their opening group game 3-2 to Portugal, moved on to three points in the group, with the South Koreans on one, both after two games.
South Korea coach Paulo Bento was given a red card post-match. He was furious English referee Anthony Taylor blew the whistle after ten minutes of injury-time before South Korea could take their 14th corner, though they had failed to score from their previous 13.
The red card means Bento will not be on the sideline for South Korea's final match against his native Portugal on Friday.
Assistant coach Sergio Costa said "the result at the end was totally unfair" and added that he did not hear Bento say anything "inappropriate."
Ghana now meet Uruguay in a reprise of the notorious 2010 quarter-final when Luis Suarez denied Dominic Adiyiah a goal deep into extra time by handling on the line.
Suarez was given a red card but Asamoah Gyan missed the resulting penalty and the Black Stars lost the penalty shootout.
"I'm not a guy that thinks much of revenge. It was really, really long time ago," said Ghana coach Otto Addo.
"I am a strong believer if you don't seek too much revenge on these kind of things sometimes you get the blessings."
Ghana had seen off early Korean pressure to go 2-0 ahead as centre-back Mohammed Salisu's scrambled goal in the 24th minute was followed 10 minutes later by a glancing header from Mohamed Kudus.
Both were at the end of superb deliveries from Jordan Ayew, restored to the starting line-up as Ghana fielded a much more offensive line-up than against Portugal.
Early second-half changes breathed new life into Korea's attack.
Lee Kang-in had barely been on the field for a minute when he helped dispossess Tariq Lamptey and fired in a cross that Cho attacked with pace, leaving Salisu watching as he got in front of his marker to power home a 58th-minute header.
Cho then climbed above the centre backs to score a dramatic equaliser, right in front of a bank of screaming Korean supporters.
Ghana, who would have been eliminated from the World Cup had they lost, looked vulnerable but were handed a surprise lifeline by sloppy Korean defending in the 68th minute.
Gideon Mensah was allowed to get a cross in from the left, which Inaki Williams missed but the ball fell for Kudus to tuck home with his left foot.
The fortuitous turn for the Black Stars was followed by Ati-Zigi making a fine save from Lee's free kick and watching as the ball was cleared off the line from Kim Jin-su's scuffed shot.
Ghana continued to live dangerously through 10 minutes of added time as Korea besieged their goal, but were unable to equalise again.
Both teams contest their final round of the Group stage this Saturday (AEDT).
Saturday, December 3
Group H - Korea Republic v Portugal
1.30am - 4:30am (AEDT) - kickoff at 02.00am
LIVE on SBS and SBS On Demand
Group H - Ghana v Uruguay
1:30am - 4:30am (AEDT) - kickoff at 02.00am
LIVE on SBS VICELAND and SBS On Demand