Fulham's Cauley Woodrow had given Gareth Southgate's team an early lead with his strike after just three minutes in Aubagne on Wednesday night.
But England were denied their second win of the tournament as Lee Chang-min levelled 10 minutes into the second half.
England's fate will now be decided on Friday when they play their final group game against Colombia. A win or a draw would be enough to get the Three Lions into Sunday's third-fourth play-off match, but defeat would see them eliminated. Brazil have already won Group B, booking themselves a final berth against Portugal or hosts France.
England had began the game so well, with Woodrow - making his first start - finishing after good build-up play from captain James Ward-Prowse and Jake Forster-Caskey.
Just moments after his opening goal, Woodrow missed the chance to double his lead after being put through by Nathaniel Chalobah, as Kim Dong-jun made a good save.
South Korea gradually came into the game and finished the first half the strongest, with Ryu Seung-woo seeing a shot dip just over the bar before then drawing a save from Jonathan Bond in the England goal.
England missed a great chance to double their lead just after the break as Michael Keane headed Luke Garbutt's corner just wide before substitute Solly March saw his effort well saved.
The Koreans then struck, with Chang-min striking a low shot wide of Bond and into the bottom corner to secure a point.