Understanding financial terminology is crucial when doing business or managing assets in Korea, especially concerning loans for specific purposes like factories. This guide covers the essential Korean term for “factory loan” and related vocabulary and phrases needed for discussing and applying for such financing.
Table Of Content
Core Expression
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Expression: 공장대출
Pronunciation: gong-jang dae-chul
Meaning: Factory loan (A loan specifically for purchasing, constructing, or operating a factory)
Basic Terminology
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Expression: 공장
Pronunciation: gong-jang
Meaning: Factory -
Expression: 대출
Pronunciation: dae-chul
Meaning: Loan -
Expression: 은행
Pronunciation: eun-haeng
Meaning: Bank -
Expression: 금리 / 이자율
Pronunciation: geum-ri / i-ja-yul
Meaning: Interest rate -
Expression: 담보
Pronunciation: dam-bo
Meaning: Collateral, security -
Expression: 대출 신청
Pronunciation: dae-chul sin-cheong
Meaning: Loan application -
Expression: 대출 심사
Pronunciation: dae-chul sim-sa
Meaning: Loan review/screening -
Expression: 대출 승인
Pronunciation: dae-chul seung-in
Meaning: Loan approval -
Expression: 상환
Pronunciation: sang-hwan
Meaning: Repayment -
Expression: 대출 기간
Pronunciation: dae-chul gi-gan
Meaning: Loan term/period -
Expression: 필요 서류
Pronunciation: pil-yo seo-ryu
Meaning: Required documents -
Expression: 사업자 등록증
Pronunciation: sa-eop-ja deung-rok-jeung
Meaning: Business registration certificate
Applying for a Loan
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Expression: 공장대출을 받고 싶습니다.
Pronunciation: gong-jang-dae-chul-eul bat-go sip-seum-ni-da.
Meaning: I would like to get a factory loan. -
Expression: 공장대출 신청 절차를 알려주세요.
Pronunciation: gong-jang-dae-chul sin-cheong jeol-cha-reul al-lyeo-ju-se-yo.
Meaning: Please tell me the application procedure for a factory loan. -
Expression: 어떤 서류가 필요한가요?
Pronunciation: eo-tteon seo-ryu-ga pil-yo-han-ga-yo?
Meaning: What documents are needed? -
Expression: 대출 금리가 어떻게 되나요?
Pronunciation: dae-chul geum-ri-ga eo-tteo-ke doe-na-yo?
Meaning: What is the loan interest rate? -
Expression: 대출 한도는 얼마인가요?
Pronunciation: dae-chul han-do-neun eol-ma-in-ga-yo?
Meaning: What is the loan limit? -
Expression: 대출 심사 기간은 얼마나 걸리나요?
Pronunciation: dae-chul sim-sa gi-gan-eun eol-ma-na geol-li-na-yo?
Meaning: How long does the loan review process take? -
Expression: 공장 설립 자금이 필요합니다.
Pronunciation: gong-jang seol-lip ja-geum-i pil-yo-ham-ni-da.
Meaning: I need funds for establishing a factory. -
Expression: 공장 운영 자금을 대출받고 싶습니다.
Pronunciation: gong-jang un-yeong ja-geum-eul dae-chul-bat-go sip-seum-ni-da.
Meaning: I want to get a loan for factory operating funds. -
Expression: 대출 신청서를 작성하겠습니다.
Pronunciation: dae-chul sin-cheong-seo-reul jak-seong-ha-get-seum-ni-da.
Meaning: I will fill out the loan application form. -
Expression: 신용 평가가 필요한가요?
Pronunciation: sin-yong pyeong-ga-ga pil-yo-han-ga-yo?
Meaning: Is a credit evaluation required? -
Expression: 정부 지원 대출 상품이 있나요?
Pronunciation: jeong-bu ji-won dae-chul sang-pum-i it-na-yo?
Meaning: Are there any government-supported loan products?
Discussing Loan Details
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Expression: 공장을 담보로 제공할 수 있습니다.
Pronunciation: gong-jang-eul dam-bo-ro je-gong-hal su it-seum-ni-da.
Meaning: I can offer the factory as collateral. -
Expression: 상환 방식에 대해 설명해 주세요.
Pronunciation: sang-hwan bang-sik-e dae-hae seol-myeong-hae ju-se-yo.
Meaning: Please explain the repayment method. -
Expression: 대출 기간은 몇 년으로 할 수 있나요?
Pronunciation: dae-chul gi-gan-eun myeot nyeon-eu-ro hal su it-na-yo?
Meaning: For how many years can the loan term be? -
Expression: 총 대출 금액은 얼마를 희망하십니까?
Pronunciation: chong dae-chul geum-aek-eun eol-ma-reul hui-mang-ha-sim-ni-kka?
Meaning: What is the total loan amount you are hoping for? -
Expression: 이 대출 상품의 특징은 무엇인가요?
Pronunciation: i dae-chul sang-pum-ui teuk-jing-eun mu-eo-sin-ga-yo?
Meaning: What are the features of this loan product? -
Expression: 중도 상환 수수료가 있나요?
Pronunciation: jung-do sang-hwan su-su-ryo-ga it-na-yo?
Meaning: Is there a prepayment penalty? -
Expression: 변동 금리인가요, 고정 금리인가요?
Pronunciation: byeon-dong geum-ri-in-ga-yo, go-jeong geum-ri-in-ga-yo?
Meaning: Is it a variable interest rate or a fixed interest rate? -
Expression: 대출 조건에 대해 자세히 알고 싶습니다.
Pronunciation: dae-chul jo-geon-e dae-hae ja-se-hi al-go sip-seum-ni-da.
Meaning: I would like to know the loan conditions in detail. -
Expression: 보증인이 필요한가요?
Pronunciation: bo-jeung-in-i pil-yo-han-ga-yo?
Meaning: Is a guarantor required? -
Expression: 월 상환액은 얼마 정도 예상되나요?
Pronunciation: wol sang-hwan-aek-eun eol-ma jeong-do ye-sang-doe-na-yo?
Meaning: Approximately how much is the estimated monthly repayment amount?
Korean Culture Notes
When seeking business loans like a 공장대출 (gong-jang dae-chul) in Korea, understanding certain cultural and procedural aspects is helpful. Banks often require extensive documentation, including detailed business plans, financial statements, and proof of collateral. The evaluation process (심사 – sim-sa) can be quite thorough.
Building a relationship with a specific bank branch and its manager can sometimes be advantageous, although formal procedures and creditworthiness remain paramount. Personal connections (인맥 – inmaek) can play a role, but less so in formal financial transactions compared to other business areas.
Be prepared for detailed questions about your business operations, financial projections, and the specific use of the loan funds. Transparency and thorough preparation are highly valued.
Korea also has various government-backed financial institutions and programs designed to support small and medium-sized enterprises (SMEs), including manufacturers. Inquiring about these options, such as through the Korea Technology Finance Corporation (기술보증기금 – gi-sul-bo-jeung-gi-geum) or the Small and Medium Business Corporation (중소벤처기업진흥공단 – jung-so-ben-cheo-gi-eop-jin-heung-gong-dan), might reveal favorable loan conditions.
Real Conversation Example
Situation: A business owner (A) visits a bank to inquire about a loan to expand their factory.
Roles: A: Business Owner, B: Bank Employee
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Expression: A: 안녕하세요, 공장 증설 자금 때문에 공장대출 상담을 받고 싶어서 왔습니다.
Pronunciation: A: an-nyeong-ha-se-yo, gong-jang jeung-seol ja-geum ttae-mun-e gong-jang-dae-chul sang-dam-eul bat-go sip-eo-seo wat-seum-ni-da.
Meaning: A: Hello, I came here because I’d like to have a consultation about a factory loan for funds to expand my factory. -
Expression: B: 네, 어서 오십시오. 공장대출 상품에 대해 안내해 드리겠습니다. 혹시 필요한 대출 금액과 사용 목적을 구체적으로 말씀해 주실 수 있나요?
Pronunciation: B: ne, eo-seo o-sip-si-o. gong-jang-dae-chul sang-pum-e dae-hae an-nae-hae deu-ri-get-seum-ni-da. hok-si pil-yo-han dae-chul geum-aek-gwa sa-yong mok-jeok-eul gu-che-jeok-eu-ro mal-sseum-hae ju-sil su it-na-yo?
Meaning: B: Yes, welcome. I will guide you through our factory loan products. Could you perhaps tell me the specific loan amount needed and the purpose of its use? -
Expression: A: 네, 약 5억 원 정도 필요하고, 공장 설비 확충과 건물 증축에 사용할 계획입니다.
Pronunciation: A: ne, yak o-eok won jeong-do pil-yo-ha-go, gong-jang seol-bi hwak-chung-gwa geon-mul jeung-chuk-e sa-yong-hal gye-hoek-im-ni-da.
Meaning: A: Yes, I need about 500 million won, and I plan to use it for expanding factory facilities and extending the building. -
Expression: B: 알겠습니다. 그럼 관련 서류 준비와 담보 설정에 대한 안내를 드리겠습니다. 사업자 등록증과 최근 재무제표를 준비해 주시면 심사가 더 원활하게 진행될 수 있습니다.
Pronunciation: B: al-get-seum-ni-da. geu-reom gwal-lyeon seo-ryu jun-bi-wa dam-bo seol-jeong-e dae-han an-nae-reul deu-ri-get-seum-ni-da. sa-eop-ja deung-rok-jeung-gwa choe-geun jae-mu-je-pyo-reul jun-bi-hae ju-si-myeon sim-sa-ga deo won-hwal-ha-ge jin-haeng-doel su it-seum-ni-da.
Meaning: B: Understood. Then I will provide guidance on preparing the related documents and setting up collateral. If you prepare your business registration certificate and recent financial statements, the review process can proceed more smoothly. -
Expression: A: 네, 감사합니다. 금리와 상환 기간은 어떻게 되나요?
Pronunciation: A: ne, gam-sa-ham-ni-da. geum-ri-wa sang-hwan gi-gan-eun eo-tteo-ke doe-na-yo?
Meaning: A: Yes, thank you. What are the interest rate and repayment period? -
Expression: B: 금리는 고객님의 신용도와 담보 가치에 따라 결정되며, 상환 기간은 최장 10년까지 가능합니다. 자세한 내용은 심사 후에 확정됩니다.
Pronunciation: B: geum-ri-neun go-gaek-nim-ui sin-yong-do-wa dam-bo ga-chi-e tta-ra gyeol-jeong-doe-myeo, sang-hwan gi-gan-eun choe-jang sip-nyeon-kka-ji ga-neung-ham-ni-da. ja-se-han nae-yong-eun sim-sa hu-e hwak-jeong-doem-ni-da.
Meaning: B: The interest rate is determined according to the customer’s creditworthiness and collateral value, and the repayment period can be up to 10 years at maximum. Detailed terms will be confirmed after the review.
Practice Tips
Navigating financial discussions in Korean takes practice! Try reviewing the vocabulary related to loans, factories, and banking~ Role-playing a conversation with a bank employee about applying for a 공장대출 (gong-jang dae-chul) can be very helpful. You can also look up information on Korean bank websites (many have English options too) to see how these terms are used in context. Don’t be afraid to practice saying the phrases aloud! Good luck! 화이팅!
