I found one, ONE, forum entry claiming that a 1950's lot of Cartridge, caliber .30, Carbine, ball M1 was loaded to 1,600 fps. Minimum spec. is 1,900; ideal is 1,990.
Update: 1,600 fps drops us to pi- territory
That gives us 3d+1 pi-. 4-19 raw damage with an average of 11 which is halved after penetrating armor.
With a 7% velocity drop because of the cold, we're at 3d pi- (3-18, avg. 10).
Against a normal, human, target that's going to take a few rounds to stop someone with DR 1 winter gear on. 2 to get consciousness and 4 to get death rolls.
Remember, though, out past 330 yards, damage is halved.
That's 2-9 (avg 5) for the 1,600 fps stuff and 1-9 (avg 5) for the 1,488 fps.
That's TEN solid hits, on average, to get to a death roll.
I've found a few anecdotal accounts where troops were engaging at 400+ yards.
You're not going to see your impacts at that range on clothing and with the sights not agreeing with the bullet's path, you're probably not hitting either.
The right drugs will give high pain threshold and the cold will also numb the recipient of the round to cause even good shot placement to the torso to be ineffective.
But let's take them at their word that they saw the impacts and hit where they were aiming. It'd be blind luck too. The bullets would be hitting low because of the cold with up to spec ammo and even lower with the underpowered stuff. 7 to 10 inches at 100 yards. 28 to 40 inches at 400.
Even with high pain threshold, an average hit of 11 to the torso will get 10 to penetrate which gets reduced to 5 and that will get the bad guy to 5 HP and they continue to charge!
Nailing them in the vitals will get 30 points delivered and two death rolls.
Past the 1/2D range, though, it will take ten average hits to get a consciousness roll on torso impacts and two to the vitals to get death rolls.
Now that we've gone through all that...
When did the Korean war end? 1953.
I know a bit about the US Army supply chain and I'm not thinking it's likely that the 1950's vintage ammo that's been tested understrength made it to the troops, even if it was made during the three years of fighting. The Army tends to FIFO their stuff.