The Korg N5 uses AI2 synthesis and has 2 built-in multi-effects processors with 48 effect types. It has 1269 patch memories and 402 combination memories. It has modes for General MIDI, GS, and XG compatibility.
The N5 has 20 different arpeggiator types avaialble and they can be set anywhere from 40BPM to 240BPM.
It is a smaller version of the Korg N1 with fewer keys, a smaller ROM sound set, and no individual outputs. A version with expanded sample ROM was released as the Korg N5EX.