3-4 point high approach two-space high pincer, ogeima, tenuki
It isn't an obvious idea for Black to ignore here, perhaps. But it is something that was tried by Go Seigen in the early days of this variation, and quite often recently by Yu Ch'ang-hyeok.
It is expected that White would play next in the corner area at a or b. The two marked areas are approximate miai in Black's thinking. White could be happy here with playing both a and b.
Black can live here with after ; though at an obvious cost in terms of weakening . Yu has also played at , White at , Black at c to minimise the corner.
When here is played, is a typical move aiming at both d for life and e for escape. Black can also play directly at d aiming just for a small immediate life.
Charles Matthews After