This character is a Other Letter and is mainly used in the Hangul script.
The glyph is a canonical composition of the glyphs Glyph for U+1100Hangul Choseong Kiyeok, Glyph for U+1169Hangul Jungseong O. Its East Asian Width is wide. In bidirectional text it is written from left to right. When changing direction it is not mirrored. U+ACE0 forms a Korean syllable block with similar characters, which prevents a line break inside it.
The Wikipedia has the following information about this codepoint:
Ko (Korean: 고; Hanja: 髙/高), also variously romanized Go, Goh, or Koh, is a common Korean surname.
Among Koreans with this surname, the largest clan is the Jeju Go clan, named for its bon-gwan (clan hometown) of Jeju Island; they claim descent from Go Eul-na, the first ruler of the kingdom of Tamna, which ruled Jeju until being absorbed by the Joseon dynasty.