The key insight, which may not be emphasized enough in the article, is that the vessel can only rise to above 100C once all the water has changed phase (boiled).
I think this is the same principle explaining why beach popsicle vendors can carry many items on a hot summer day without them all melting right away. There is insulation, for sure, but in addition the temperature of what is effectively a large volume ice cube block must rise above 0C before the popsicles can begin to change phase (melt).
In the rice cooker, this property is harnessed while a "bimetallic switch measured the temperature in the external pot". The bimetallic component means that one metal heats and expands faster than the other, eventually breaking the circuit.
If memory serves, this same trick is used in older car model turn signal lights, to produce the periodic on/off switching.
I am not asian but enjoy my rice cooker every day. I love simple robust engineering.