I currently have this thing, which I've been told is a propaganda leaflet picked up by my grandpa during the Korean War. I have some questions related to leaflets in general and some questions about this specific one.

First, who was dropping propaganda leaflets? Was it both sides, or just one? Were leaflets dropped more for soldiers or civilians?

I know I can post this on other subreddits to get it translated, but as I'm posting here anyway, can anyone here give an idea of what it says? There's a missing character at the top -- how much does this affect the translation?

And is it possible to get an idea for where and when a leaflet was dropped? I don't assume someone will look at this one and say, "yes, I know all about this particular leaflet." I'm more wondering whether it's even feasible. Was a single leaflet targeted to a specific region, or were they just dropped everywhere? Did leaflets have "limited runs," or were messages/designs reused at different parts of the war?

This feels kind of niche, so I'm not expecting answers to everything. But if anyone can give me some information here, I'd appreciate it. Thanks.