The traditional Korean color spectrum, also known as Obangsaek (오방색), is the color scheme of the five Korean traditional colors of white, black, blue, yellow and red. In Korean traditional arts and traditional textile patterns, the colors of Obangsaek represent five cardinal directions:

Blue: east
Red: south
Yellow: center
White: west
Black: north
These colors are also associated with the Five Elements of traditional Korean culture:

Blue: Wood
Red: Fire
Yellow: Earth
White: Metal
Black: Water

Source From Wikipedia