Rule 9.7: -
Players may stop, receive and deflect or play the ball in a controlled manner in any part of the field when the ball is at any height including above the shoulder unless this is dangerous or leads to danger.
Rule 9.10: -
Players must not approach within 5 metres of an opponent receiving a falling raised ball until it has been received, controlled and is on the ground.
The initial receiver has a right to the ball. If it is not clear which player is the initial receiver, the player of the team which raised the ball must allow the opponent to receive it.
The KOR player aerials the ball. Her team-mate on the 23 metres line is clearly the initial receiver of the ball. As the raised ball falls, the NZL player starts to approach within 5 metres of her opponent. However, she allows the KOR player to receive the ball from above shoulder height and control it on the ground, without attempting to tackle her. The Umpire allows play to continue.
The attachment shows the relevant slide from the 2015 Umpire Managers Briefing for Umpires.