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+110EHangul Choseong Chieuch, Glyph for U+116CHangul Jungseong Oe. Its East Asian Width is wide. In bidirectional text it is written from left to right. When changing direction it is not mirrored. U+CD5C forms a Korean syllable block with similar characters, which prevents a line break inside it.
The Wikipedia has the following information about this codepoint:
Choi (Korean: 최; Hanja: 崔) is a Korean family surname. As of the South Korean census of 2015, there were around 2.3 million people by this name in South Korea or roughly 4.7% of the population. In English-speaking countries, it is most often anglicized Choi, and sometimes also Chey, Choe or Chwe. Ethnic Koreans in the former USSR prefer the form Tsoi (Tsoy) especially as a transcription of the Cyrillic Цой.