It has a lot of cool stuff, including FaceTime video conferencing built-in, along with a video camera and video editing, retina-grade resolution on the display, more efficient multitasking, etc., etc. They really have taken a big leap.
I will definitely be getting one (I have a special need for the camcorder-on-demand feature and almost bought a newer iPod Nano for that reason alone). In the meantime, for 3G users like myself or 3Gs users, there's the new iOS4.
The only question is whether I'll stay black or go white.
Oh, and for some Korea-related news on the iPhone, go here.