The following are the Dip Switch settings based off of MAME 0.180 source code.
 
Use this information at your own risk!  The information was parsed from the MAME source code and could contain errors as to the state, order or descriptions of what the switches do.  If you find an error, please let me know on the Contact Us form and I will work on correcting the issue. 
 
 
 
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Manufactured by Seibu Kaihatsu (IBL Corporation license), Released in 1990
ROM Version: Raiden (Korea)
Print
Dip Switch:SW1
12345678FunctionOption
Off       Coin ModeA*
On       B
 OffOff     Coin A1 Coin/1 Credit*
 OnOff     2 Coins/1 Credit
 OffOn     3 Coins/1 Credit
 OnOn     5C/1C or Free if Coin B too
   OffOff   Coin B1 Coin/2 Credits*
   OnOff   1 Coin/3 Credits
   OffOn   1 Coin/5 Credits
   OnOn   1C/6C or Free if Coin A too
 OffOffOffOff   Coinage1 Coin/1 Credit*
 OffOnOnOff   1 Coin/2 Credits
 OnOnOnOff   1 Coin/3 Credits
 OffOffOffOn   1 Coin/4 Credits
 OnOffOffOn   1 Coin/5 Credits
 OffOnOffOn   1 Coin/6 Credits
 OnOffOffOff   2 Coins/1 Credit
 OnOnOffOn   2 Coins/3 Credits
 OffOnOffOff   3 Coins/1 Credit
 OffOffOnOn   3 Coins/2 Credits
 OnOnOffOff   4 Coins/1 Credit
 OffOffOnOff   5 Coins/1 Credit
 OnOffOnOn   5 Coins/3 Credits
 OnOffOnOff   6 Coins/1 Credit
 OffOnOnOn   8 Coins/3 Credits
 OnOnOnOn   Free Play
     Off  Credits to Start1*
     On  2
       OffFlip ScreenOff*
       OnOn
Dip Switch:SW2
12345678FunctionOption
        Lives1
        Bonus Life1000000 5000000
        150000 400000*
        Lives2
        3*
        Bonus Life300000 1000000
        Lives5
        Bonus Life80000 300000
        DifficultyEasy
        Hard
        Allow ContinueNo
        DifficultyNormal*
        Demo SoundsOff
        On*
        DifficultyVery Hard
        Allow ContinueYes*
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