It's an "artificial" alphabet, meaning that it wasn't born organically over hundreds of years but created by a group of koreans. It's very simple by design, as it was created to allow the general populace to write and read (until then they were using some kind of chinese dialect, too complicated for those in the working class).
Case in point: http://ryanestradadotcom.tumblr.com/post/20461267965/learn-t...
Source: my korean teacher back when I did a year of study in korea. So I might be fuzzy on some details.
>>Arabic [has] different start/middle/end forms [...]
As far as I'm aware, Korean doesn't have different characters (forms) for the same sound, and doesn't omit vowels in the same manner that written Arabic does sometimes.
However, in the grand scheme of things, China has invested too much culturally, traditionally and publicly to walk away from their (relatively recently) simplified writing system and language.
(Reply biased a little based on my own experience reading both languages, but still should be pretty factually correct for most)
Arabic has some marks and different start/middle/end forms but it is simpler