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+1105Hangul Choseong Rieul, Glyph for U+1175Hangul Jungseong I. Its East Asian Width is wide. In bidirectional text it is written from left to right. When changing direction it is not mirrored. U+B9AC forms a Korean syllable block with similar characters, which prevents a line break inside it.
The Wikipedia has the following information about this codepoint:
Lee, I, or Yi (이) is the second-most-common surname in Korea, behind Kim (김). As of the South Korean census of 2015, there were 7,306,828 people by this name in South Korea or 14.7% of the population.
Historically, 李 was officially written as Ni (니) in Korea. The spelling officially changed to I (이) in 1933 when the initial sound rule (두음 법칙) was established. In North Korea, it is romanized as Ri (리) because there is no distinction between the alveolar liquids /l/ and /r/ in modern Korean.