It is saying: People are becoming increasingly sensitive to cultural difference, and they are also becoming increasingly accepting of it. In that sentence "accepting" is a present participle, not the main verb!
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park sang joonSo, I'd like to know in my example if "accepting" is used as an adjective, not a present participle.It is a present participle in form and an adjective in function!
park sang joonI don't think a present participle needs "of" to take an object like an adjective.The usage here is adjectival. (You can put "very" in front of it: very accepting.) The adjective accepting (or participial adjective, if you like) takes an of-phrase as a complement.
CalifJim accepting of cultural differenceSorry for disturbance. How would it be if 'They have (already) accepted cultural difference'?
SupercatThey have (already) accepted cultural difference.That's fine, but of course, it's not the same grammatical pattern as in the original question.