Not saying it's not a great achievement in those countries. But it's hardly a sign of failure that the UK already had a great number of literate and numerate people a generation ago.
Hong Kong and South Korea were very different places a generation ago. China has changed out of all recognition, from a country where learning was suspect and even dangerous under the Cultural Revolution. But the older generation are the people who were young then. Somebody who is in their fifties today would have been at school or just about to start school when the Cultural revolution started.
Anyway, don't let's treat "the Asian" countries as if they were all one. Literacy rates in Pakistan are still appalling, particularly for girls: the fact that they happen to be next door to India doesn't help them at all.
Even the Scandinavian countries differ widely educationally. Finland is indeed culturally and ethnically homogenous- Sweden and Denmark have a large immigrant population, many of whom (at least in Sweden) are refugees with very low levels of education and often traumatised from their previous life. Finland has a fairly traditional educational system which hasn't changed greatly over the last couple of generations. Sweden has introduced free schools and generally changed quite a bit since they were heading all the league tables. Not the same, not the same at all.
Speaking as someone who was educated in Sweden under the old system, I was taught spelling, grammar and foreign languages to a high standard. But I was never taught how to express myself or speak in public- no drama lessons, no debating societies, not even proper essay writing. You won't find me making mistakes over my French irregular verbs, but I have had to work very hard to learn to marshal my thoughts and present them neatly: my dc here in the UK learn that much earlier and much better.