On September 15, 1954 the Republic of Korea issued a set of three stamps (Sc #s 200-2) depicting the Liancourt Rocks. The Liancourt Rocks lie halfway between the Korean Peninsula and Japan in the Sea of Japan. They are made up of two small islands and many smaller islets. The three stamps show two different views; the two lower values (2 hwan, 5 hwan) show the same view in different colors. 5 hwan value is not shown here.
From kccoc.org, "Although claimed by both Korea and Japan, Liancourt Rocks are currently administered by the Republic of Korea. Both nations' claims extend back at least several hundred years. Significant arguments supported by a variety of historical evidence have been presented by both parties, which have been challenged by counter-arguments with varying degrees of success."