I know a lot of anime-addicted weeaboos imagine Japan is some kind of magical place, so I'm very curious of how you drama addicts imagine South-Korea is like and what living there would be like?

Just a normal place...I'd get there and I would probably get the attention of Lee Minho and he would probably became another slave of my army through the conquest of hotness ...(Your bias is probably there too)
Yep,seems about right..
based on locations used for films and dramas they probably represent SKorea in the most beautiful way. Different culture to me but I'm sure it's very normal and does not play out like the dramas we watch. Though I sometimes wonder if drama characters depicted in poor situations are a likeness for real situations there? They seem very adaptable, strict with etiquette and honorifics and looks like they have amazing food dishes and probably lots of cute oppas :D :D I would like to visit 
Since I was just there in April, I have to say that when I got there, it was totally different to what I expected, but in a good way. It's beautiful there. Tons of tourist (mainly chinese).  The food was just like in the dramas, tons of it and Kimichi with every meal in every way. We did get stopped when we were out on the streets and got compliments on how cute my boys were, they called them the B-boys referring to hip-hop. The people were very respectful,polite and very honest. Our tour guide couldn't believe how much I knew about the dramas and the actors names, I got sooo excited everytime I saw a billboard with someone I knew and of course I used all the little words I have picked up from watching the dramas. Hoping to go back again sometime in the future.
^so lucky! were there lots of dashing Oppas?
Yes, there was :) 
I'm well aware of Korea's shortcomings and problems, although I've learned to appreciate some of them that I hated at first. I'm also painfully aware that I won't be accepted as a Korean even if I'm fluent in the language, fully immersed in the culture, married to a Korean and have been living there for 30 years. I'll always be seen as a foreigner. And I'm okay with that, after all is what kept safe the strong cultural identity.

But I still romanticize how would be my first time there (I can't help it). Not because it's a perfect paradise, but because I've been longing forever. Just like water tastes like heaven when you're thirsty. I want that feeling that "I'm here!" and finally get to experience what I've been dying for. I want to spend a night at Namsan Tower, a full weekend at some isolated hanok village, eat traditional Korean food made by a grandma and listen to all her stories of when she was young. It's a very personal fantasy, nothing to do with the perfectness of the country.

It's a bit like the difference between passion and love. One ignores the existence of flaws, the other embrace those flaws as part of what makes someone special.