A light-emitting medium having a light-emitting image including first pattern elements formed on a substrate by using a first fluorescent ink containing a first fluorescent material, and second pattern elements formed on the substrate by using a second fluorescent ink containing a second fluorescent material. The first and second pattern elements form a plurality of micro-character rows m, and the first pattern elements form a latent image in the micro-character rows m. The first fluorescent material is made of a fluorescent material which emits light of blue color when UV-A is irradiated, and emits light of red color when UV-C is irradiated. The second fluorescent material is made of a fluorescent material which emits light of blue color or light of a color that is viewed as the same color as the blue color when the UV-A is irradiated, and emits light of green color when the UV-C is irradiated.