When people say SEA they mean Thailand and Bali, the rest of SEA is really unique and theres lots to explore and its mostly really safe.
Latin America has less of a cutural divide between the countries. It's famous for barbaric violence. You have to watch your back at all times in most places. In SEA I carry my wallet in my back pocket and haven't been robbed once. Latin American culture has no values outside of mi familia which they will rob and behaed people for.