If you’re planning to work in Korea, invest in Korean stocks, or simply manage your finances while living there, understanding banking and financial terms in Korean is crucial. This article will guide you through essential vocabulary that will help you navigate financial documents, conversations, and transactions with ease.
은행 (Eunhaeng) – Bank
어느 은행에 계좌를 가지고 계세요?
A bank is a financial institution licensed to receive deposits and make loans. Banks may also provide financial services such as wealth management, currency exchange, and safe deposit boxes.
계좌 (Gyaejwa) – Account
제 계좌로 돈을 이체해 주세요.
An account is a record for the management of money received, held, and paid out by a bank for a customer.
저축 (Jeochuk) – Savings
저축은 미래를 위한 투자입니다.
Savings refer to the money one has saved, especially through a bank or official savings scheme.
투자 (Tuja) – Investment
투자는 위험을 수반하지만, 수익도 클 수 있습니다.
An investment is the action or process of investing money for profit.
대출 (Daechul) – Loan
은행에서 대출을 받으려면 신용이 좋아야 합니다.
A loan is an amount of money borrowed from a bank or other financial institution, usually repaid with interest.
이자 (Ija) – Interest
이자율이 낮을 때 대출을 받는 것이 좋습니다.
Interest is the cost of borrowing money, typically expressed as an annual percentage rate.
예금 (Yegum) – Deposit
은행에 돈을 예금하면 이자를 받을 수 있습니다.
A deposit involves placing money into a bank account, which accrues interest over time.
출금 (Chulgeum) – Withdrawal
출금을 하려면 본인 확인이 필요합니다.
A withdrawal is the act of taking money out from a bank account.
환전 (Hwanjeon) – Currency Exchange
외국 돈을 한국 원으로 환전하려면 수수료가 필요합니다.
Currency exchange is the process of exchanging one currency for another, typically at an agreed-upon rate.
주식 (Jusik) – Stock
주식 시장은 경제 상황에 따라 변동이 심합니다.
A stock is a share in the ownership of a company, representing a claim on the company’s assets and earnings.
채권 (Chae-gwon) – Bond
정부 채권은 일반적으로 안전한 투자로 간주됩니다.
A bond is a fixed income instrument that represents a loan made by an investor to a borrower, typically corporate or governmental.
신용카드 (Sinyongkadeu) – Credit Card
신용카드 사용 후에는 반드시 결제를 해야 합니다.
A credit card is a plastic card issued by a bank that allows its holder to borrow funds, usually at point of sale, which can be paid back later.
직불카드 (Jikbul-kadeu) – Debit Card
직불카드는 사용한 만큼의 금액이 계좌에서 바로 차감됩니다.
A debit card is a plastic payment card that deducts money directly from a consumer’s checking account to pay for a purchase.
은행 거래 (Eunhaeng Georae) – Banking Transaction
모든 은행 거래는 주의 깊게 기록해야 합니다.
A banking transaction is any financial operation carried out through a bank, including deposits, withdrawals, and transfers.
금융 시장 (Geumyung Sijang) – Financial Market
금융 시장은 투자자들에게 많은 기회를 제공합니다.
A financial market is a marketplace where people trade financial securities, commodities, and other fungible items of value at low transaction costs.
자산 (Jasan) – Assets
개인의 자산 관리는 재정적 안정성을 위해 중요합니다.
Assets are resources owned by an individual or entity, expected to bring future economic benefits.
부채 (Buchae) – Debt
부채를 줄이는 것은 재정 건강을 위해 필수적입니다.
Debt is an amount of money that is owed or due, typically as a result of borrowing.
By familiarizing yourself with these terms, you can enhance your financial literacy and navigate through banking and financial contexts with confidence while in Korea. Whether you’re discussing investment options or setting up a bank account, these words will surely be a valuable addition to your Korean vocabulary.
