Korea remained divided close to the 38^th parallel, so in many ways not much had changed. Kim il Sung and the communists remained in control of North Vietnam and the South stayed capitalist under Syngman Rhee.
Communist forces had been removed from South Korea.
The Korean War caused 1.2 million deaths - about 36 000 US, 500 000 S Korean, 400 000 Chinese and 300 000 N Korean. Many more were injured.
The UN and USA saw the Korean war as a victory and so it made them more likely to become involved in Vietnam as they thought that would be successful too.
The reputation of the UN and the USA was also damaged when the US led coalition forces invaded North Korea going beyond their original mission to remove communists from S Korea.
The invasion of N Korea directly provoked the involvement of 200 000 Chinese troops and an escalation of Cold War tensions, moving the focus of the Cold War from Europe to Asia.

The conflict was never formally ended and both North and South Korea have an uneasy stand off today.

GCSE Conflict in Asia 1950 - 1975 AQA

Significance of the conflict