The writing is definitely Korean. I'd guess it's a propaganda leaflet air-dropped by the UN/American side, telling North Korean soldiers they shouldn't be fighting just because the USSR and China want them to. The top line on the cartoon side ends in a question mark; I'd guess it's asking something like "Is this how friends should treat you?". The text on such notes usually run along the lines of "We don't want to be forced to kill you. Surrender and show us this piece of paper and we'll feed you and treat you well".
It would, of course, be a capital crime for a North Korean soldier to be found carrying such a piece of paper in North Korea. The way this one's been folded suggests somebody did keep it, and perhaps even used it.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis