
Red flag top: is in fact a bad person and has questionable behavior towards the bottom (abuse, yelling, hitting) Sometimes it can become a yellow flag (it means he "changed", but personally I think it is always an excuse to romanticize the toxic dynamic in every manhwa).
Black flag top: constantly abuses the bottom, tortures, kills, constantly beats the bottom and can also become a yellow flag sometimes (as I said before, that is direct romanticization).

Morally grey characters can be like a yellow flag, sometimes yellow also means the top does nothing wrong to the bottom (like rape him, hit him, abuse him, etc), but he has some questionable actions like being a gangster, being violent towards people, having a personality disorder, keep the bottom under his control, or maybe tell him some kind of lie to manipulate or gaslight him.
Can someone please explain the difference between a red and black flag character