Although Pepsi Logo and Korean flag look similar now-a-day, but they are originated differently, and by tracing the chronology, we can see they are originated from different concept.
As we can see, Pepsi's original logo design include a wave-like pattern and adapts 3 colors (red, white and blue) with letters in the middle. And the symbol later on being simplified by taking out the letters. On the other hand, Korean flag is based on the simplified concept of taichi and bagua from ancient Chinese culture. And the white color is not an element in the flag center.
Mr. Korean Flag
North Korean Flag: 람홍색공화국기 Ramhongsaek Konghwagukki South Korean Flag: 태극기 Taegeukgi
The South Korean flag is black, white, blue and red. The North Korean flag is red, blue and white. The flag of the Korean Empire was white, blue and orangey red.
No you can not use it as a logo.
A logo that features a red circle with a black outline is often associated with the Japanese flag, but in a branding context, it is widely recognized as the logo for the popular video game franchise "Pokémon." The logo is used to represent various Pokémon games and merchandise. Additionally, it can resemble the logo of certain companies or events, so context is key to its identification.
pepsi
no, it is a symbol.
Depending on the size of the banner, it could resemble a handkerchief when folded up.
Korea?
Jehovah's witnesses don't have flag but they have a logo.
confederacy
Amtrak