Understanding specific industry terms is crucial when discussing business in Korea. This guide focuses on the Korean term for the “condominium business,” providing essential vocabulary, related phrases, and cultural context relevant to this sector in Korea. Learn the key expressions needed to discuss operations, investments, and trends within the Korean condominium market.
Table Of Content
Core Expression
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Expression: 콘도업
Pronunciation: kon-do-eop
Meaning: Condominium business (The industry related to developing, selling, and managing condominiums, often including membership systems)
Related Terminology
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Expression: 콘도미니엄
Pronunciation: kon-do-mi-ni-eom
Meaning: Condominium -
Expression: 콘도 회원권
Pronunciation: kon-do hoe-won-gwon
Meaning: Condo membership certificate/pass -
Expression: 분양
Pronunciation: bun-yang
Meaning: Selling (real estate, often pre-construction or in lots); distribution -
Expression: 숙박 시설
Pronunciation: suk-bak si-seol
Meaning: Accommodation facility -
Expression: 휴양 콘도미니엄
Pronunciation: hyu-yang kon-do-mi-ni-eom
Meaning: Resort condominium -
Expression: 부동산 개발
Pronunciation: bu-dong-san gae-bal
Meaning: Real estate development -
Expression: 시설 관리
Pronunciation: si-seol gwal-li
Meaning: Facility management -
Expression: 운영
Pronunciation: un-yeong
Meaning: Operation; management -
Expression: 투자
Pronunciation: tu-ja
Meaning: Investment -
Expression: 관광 사업
Pronunciation: gwan-gwang sa-eop
Meaning: Tourism business -
Expression: 레저 산업
Pronunciation: re-jeo san-eop
Meaning: Leisure industry -
Expression: 객실
Pronunciation: gaek-sil
Meaning: Guest room
Business Operations Phrases
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Expression: 콘도업을 시작하다
Pronunciation: kon-do-eo-beul si-jak-ha-da
Meaning: To start a condominium business -
Expression: 콘도 회원권을 판매하다
Pronunciation: kon-do hoe-won-gwo-neul pan-mae-ha-da
Meaning: To sell condo memberships -
Expression: 콘도 시설을 관리하다
Pronunciation: kon-do si-seo-reul gwal-li-ha-da
Meaning: To manage condo facilities -
Expression: 객실 예약을 받다
Pronunciation: gaek-sil ye-ya-geul bat-da
Meaning: To receive room reservations -
Expression: 콘도 분양 사업을 하다
Pronunciation: kon-do bun-yang sa-eo-beul ha-da
Meaning: To run a condo sales (pre-sale/lot sale) business -
Expression: 새로운 콘도를 건설하다
Pronunciation: sae-ro-un kon-do-reul geon-seol-ha-da
Meaning: To construct a new condominium -
Expression: 콘도 운영 규정을 만들다
Pronunciation: kon-do un-yeong gyu-jeong-eul man-deul-da
Meaning: To create condo operating regulations -
Expression: 고객 만족도를 높이다
Pronunciation: go-gaek man-jok-do-reul no-pi-da
Meaning: To increase customer satisfaction -
Expression: 콘도업 관련 법규를 준수하다
Pronunciation: kon-do-eop gwal-lyeon beop-gyu-reul jun-su-ha-da
Meaning: To comply with regulations related to the condominium business -
Expression: 마케팅 전략을 수립하다
Pronunciation: ma-ke-ting jeol-lya-geul su-rip-ha-da
Meaning: To establish a marketing strategy -
Expression: 수익성을 분석하다
Pronunciation: su-ik-seong-eul bun-seok-ha-da
Meaning: To analyze profitability -
Expression: 유지보수 계획을 세우다
Pronunciation: yu-ji-bo-su gye-hoe-geul se-u-da
Meaning: To set up a maintenance plan
Legal and Administrative Terms
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Expression: 사업자 등록
Pronunciation: sa-eop-ja deung-nok
Meaning: Business registration -
Expression: 건축 허가
Pronunciation: geon-chuk heo-ga
Meaning: Building permit -
Expression: 관광진흥법
Pronunciation: gwan-gwang-jin-heung-beop
Meaning: Tourism Promotion Act (often relevant for resort condos) -
Expression: 분양 계약서
Pronunciation: bun-yang gye-yak-seo
Meaning: Sales contract (for real estate lots/units) -
Expression: 회원 약관
Pronunciation: hoe-won yak-gwan
Meaning: Membership terms and conditions -
Expression: 관리 규약
Pronunciation: gwal-li gyu-yak
Meaning: Management agreement/bylaws -
Expression: 소유권 이전 등기
Pronunciation: so-yu-gwon i-jeon deung-gi
Meaning: Registration of ownership transfer -
Expression: 세금 신고
Pronunciation: se-geum sin-go
Meaning: Tax declaration/filing -
Expression: 인허가 절차
Pronunciation: in-heo-ga jeol-cha
Meaning: Licensing and permitting procedures -
Expression: 공정거래위원회
Pronunciation: gong-jeong-geo-rae-wi-won-hoe
Meaning: Fair Trade Commission -
Expression: 소비자 보호법
Pronunciation: so-bi-ja bo-ho-beop
Meaning: Consumer Protection Act -
Expression: 부동산 관련 법규
Pronunciation: bu-dong-san gwal-lyeon beop-gyu
Meaning: Real estate related laws and regulations
Cultural Tips
In Korea, condominiums (콘도 – kon-do) are popular vacation accommodations, especially resort-style ones (휴양 콘도 – hyu-yang kon-do). They often operate on a membership basis (회원권 – hoe-won-gwon), where members purchase rights to use the facilities for a certain number of days per year.
The 콘도업 (kon-do-eop) is closely linked to the domestic tourism and leisure industries. Many large Korean conglomerates (대기업 – dae-gi-eop) operate condominium chains across the country.
Understanding the distinction between individually owned apartment-style condos (common in cities) and these resort/membership-based condos (often located in tourist destinations) is important. The term 콘도업 primarily refers to the business surrounding the latter.
The concept of 분양 (bun-yang) is central, referring not just to selling individual units but often to selling memberships that grant usage rights rather than full ownership, especially in resort condos.
Due to the nature of membership sales and pre-construction sales, the condominium business is subject to specific regulations under laws like the Tourism Promotion Act and consumer protection laws to ensure transparency and protect buyers.
Real Conversation Example
Situation: Two business associates are discussing potential investment opportunities in the leisure industry.
Characters:
- A: Potential Investor
- B: Business Consultant
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Expression: A: 요즘 레저 산업 투자를 고려 중인데, 특히 콘도업에 관심이 많습니다.
Pronunciation: yo-jeum re-jeo san-eop tu-ja-reul go-ryeo jung-in-de, teuk-hi kon-do-eo-be gwan-si-mi man-seum-ni-da.
Meaning: A: I’m considering investing in the leisure industry these days, and I’m particularly interested in the condominium business. -
Expression: B: 아, 콘도업이요. 성장 가능성이 있지만, 초기 투자 비용이 크고 운영 관리가 중요합니다.
Pronunciation: a, kon-do-eo-bi-yo. seong-jang ga-neung-seong-i it-ji-man, cho-gi tu-ja bi-yong-i keu-go un-yeong gwal-li-ga jung-yo-ham-ni-da.
Meaning: B: Ah, the condominium business. It has growth potential, but the initial investment cost is large, and operational management is crucial. -
Expression: A: 네, 알고 있습니다. 주로 회원권 분양 방식으로 운영되나요?
Pronunciation: ne, al-go it-seum-ni-da. ju-ro hoe-won-gwon bun-yang bang-si-geu-ro un-yeong-doe-na-yo?
Meaning: A: Yes, I’m aware. Is it primarily operated through membership sales? -
Expression: B: 많은 휴양 콘도들이 그렇습니다. 회원권 판매와 시설 관리가 핵심이죠. 관련 법규도 잘 확인하셔야 합니다.
Pronunciation: ma-neun hyu-yang kon-do-deu-ri geu-reot-seum-ni-da. hoe-won-gwon pan-mae-wa si-seol gwal-li-ga haek-sim-i-jyo. gwal-lyeon beop-gyu-do jal hwa-gin-ha-syeo-ya ham-ni-da.
Meaning: B: Many resort condominiums are like that. Membership sales and facility management are key. You also need to check the relevant regulations carefully. -
Expression: A: 투자 전에 시장 조사와 수익성 분석을 철저히 해야겠네요.
Pronunciation: tu-ja jeo-ne si-jang jo-sa-wa su-ik-seong bun-seo-geul cheol-jeo-hi hae-ya-gen-ne-yo.
Meaning: A: I’ll need to conduct thorough market research and profitability analysis before investing. -
Expression: B: 맞습니다. 콘도업은 입지 조건과 서비스 품질도 매우 중요하니 다각도로 검토해 보시는 것이 좋습니다.
Pronunciation: mat-seum-ni-da. kon-do-eo-beun ip-ji jo-geon-gwa seo-bi-seu pum-jil-do mae-u jung-yo-ha-ni da-gak-do-ro geom-to-hae bo-si-neun geo-si jo-seum-ni-da.
Meaning: B: That’s right. Location conditions and service quality are also very important in the condominium business, so it’s good to review it from various angles.
Practice Tips
Familiarizing yourself with industry-specific terms like 콘도업 takes practice! Try reading Korean business news articles related to real estate development or the tourism sector~ You might find discussions about new condo projects or trends in membership sales.
Practice using the related terminology when discussing vacation plans or investment ideas, even if just to yourself. Imagine explaining the Korean condo membership system to someone unfamiliar with it. Good luck with your studies! 화이팅!
