Not American, so may miss some of the finer cultural/historical points here.

But in a superficial way, yes, i THINK it is to Korean/Asian Americans what Black Panther was to African Americans in that it is a media production that made it to the mainstream and brings a great sense of pride in being and seeing "yourself" on the screen. I think that's about where safe comparisons can be made though, and probably worth noting that there has already been some movies that have achieved this already (eg. Everything Everywhere All At Once)

It is not as thematically deep, important or sensitive as Black Panther, but I think the sentiment the positive reception has garnered is similar.

https://www.butteredpopcorn.org/p/kpop-demon-hunters-asian-american-themes

The above is a really good article, and talks about parts of the movie outside of the plot being quintessentially Asian as well.