On the other hand, Saina Nehwal and Olympic silver medallist P V Sindhu also advanced to the quarterfinals of the women's singles competition.
Srikanth, who had edged out Son Wan Ho in the semifinals of Indonesia Open last week, once again had an upper hand against the World No. 1 Korean, beating him 15-21 21-13 21-13 in a 57-minute clash.
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Interestingly, Srikanth and Praneeth had clashed in the final of Singapore Open in April with the latter emerging victorious.
In the women's singles, fifth seed Sindhu defeated Chen 21-13 21-18 in 46 minutes. She will clash with either Thailand's Ratchanok Intanon or World No. 1 and top seed Tai Tzu Ying of Chinese Taipei.
The World No. 16 Saina Nehwal defeated Soniia Cheah of Malaysia by 21-15, 20-22, 21-14 and will clash with sixth-seeded Chinese Sun Yu in quarterfinals of women's singles.
In the women's doubles, Ashwini Ponnappa and N Sikki Reddy fought well before suffering a 21-18 18-21 13-21 loss to seventh-seeded Japanese pair of Shiho Tanaka and Koharu Yonemoto.
The men's doubles pair of Satwiksairaj Rankireddy and Chirag Shetty suffered a 16-21 18-21 loss to eighth-seeded Chinese Taipei's Chen Hung Ling and Wang Chi-Lin.
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