The set shape here is a sound word plus 하고 터지다: 펑 하고 터지다 bursting with a bang, 뻥 하고 with a loud one, 톡 하고 with a light pop. Confetti, fireworks and a vacuum seal are what burst in these lines. 터지다 also covers laughter breaking out, which is what the caption about the laughter landing rather than the punch is doing.