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Words for Economic Terms and Concepts in Korean

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Learning a new language opens up a world of opportunities, not just for personal growth but also for understanding global affairs, like economics. In this article, we’ll explore key economic terms and concepts in Korean that are essential for anyone interested in the intersection of language and economics.

경제 (Gyeongje) – Economy
This term refers to the state of a region or country in terms of the production and consumption of goods and services and the supply of money. It is a broad concept that encompasses various aspects of financial and commercial life.

한국의 경제는 빠르게 성장하고 있습니다. (Hanguk-ui gyeongje-neun ppareuge seongjanghago issseumnida.) – The economy of South Korea is growing rapidly.

재정 (Jaejeong) – Finance
Refers to the management of large amounts of money, especially by governments or large companies.

정부는 국가 재정을 안정적으로 관리해야 합니다. (Jeongbu-neun gukga jaejeong-eul anjeongjeogeuro gwanrihaeya hamnida.) – The government should manage the national finances stably.

투자 (Tuja) – Investment
The action or process of investing money for profit.

투자는 미래의 수익을 위한 중요한 결정입니다. (Tuja-neun mirae-ui suigeul wihan jungyohan gyeoljeong-imnida.) – Investment is an important decision for future returns.

성장률 (Seongjangryul) – Growth Rate
The rate at which a country’s economy grows or shrinks in a given period.

이 나라의 성장률은 올해 3%입니다. (I nara-ui seongjangryul-eun olhae 3%ibnida.) – The growth rate of this country is 3% this year.

물가 (Mulga) – Prices/Cost of Living
The level of prices relating to a range of everyday items.

이 도시의 물가가 매우 높습니다. (I doshi-ui mulga-ga maeu nopseumnida.) – The cost of living in this city is very high.

인플레이션 (Inpulleisyeon) – Inflation
The rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.

인플레이션으로 인해 생활비가 증가했습니다. (Inpulleisyeon-euro inhae saenghwalbiga jeunggahaetseumnida.) – The cost of living has increased due to inflation.

수출 (Su-chul) – Export
Goods and services sold by a country to other countries.

우리나라의 수출이 올해 큰 폭으로 증가했습니다. (Urinaui su-chul-i olhae keun pok-euro jeunggahaetseumnida.) – Our country’s exports have increased significantly this year.

수입 (Su-ip) – Import
Goods and services brought into a country from abroad for sale.

최근에 수입 곡물 가격이 상승했습니다. (Choegune su-ip gokmul gakkaek-i sangseunghaetseumnida.) – The price of imported grains has recently risen.

국내총생산 (Guknaechongsaengsan) – Gross Domestic Product (GDP)
The total value of goods produced and services provided in a country during one year.

국내총생산은 경제 성장을 측정하는 기준입니다. (Guknaechongsaengsan-eun gyeongje seongjang-eul cheukjeonghaneun gijun-imnida.) – Gross Domestic Product is a measure of economic growth.

무역수지 (Muyeoksuzi) – Trade Balance
The difference in value between a country’s imports and exports.

우리나라는 긍정적인 무역수지를 기록했습니다. (Urinara-neun geungjeongjeog-in muyeoksuzi-reul girokhaetseumnida.) – Our country has recorded a positive trade balance.

Understanding these economic terms not only contributes to your language skills but also to a deeper understanding of Korea’s place in the global economy. Whether you’re studying economics, working in a related field, or simply curious about financial matters, knowing how to discuss these concepts in Korean will prove invaluable. Keep practicing, and soon you’ll be able to navigate economic conversations in Korean with confidence and ease.

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