Korean word

위약금

Pronunciation

Romanizationwiyakkkeum

Meaning

  • nounpenalty

Example

호텔 예약을 취소하면 위약금을 물어야 해요.ho tel ye ya geul chwi so ha myeon wi yak kkeu meul mu reo ya hae yo

If you cancel the hotel reservation, you have to pay a penalty.

Illustration for 위약금 (penalty)

More examples

항공권이 환불 불가이면 위약금을 지불해야 할 수 있어요.hang gong gwo ni hwan bul pul ga i myeon wi yak kkeu meul chi bul hae ya hal ssu i sseo yo

If the airline ticket is nonrefundable, you may have to pay a penalty.

Core concept

Breaking a contract triggers a payment already specified in the agreement.

Common phrases

  • 위약금을 지불하다wi yak kkeu meul chi bul ha da

    pay a penalty

  • 위약금을 부담하다wi yak kkeu meul pu dam ha da

    be liable for a penalty

  • 위약금이 부과되다wi yak kkeu mi pu gwa doe da

    a penalty is imposed

Similar words

벌금peolgeum: Money imposed by the state or a court as punishment for breaking the law.
과태료kwataeryo: Money charged by an administrative authority for breaking a law or local rule.
손해배상sonhaebaesang: Money paid to cover loss caused to another party.
보상금posanggeum: A payment given for harm, loss, or inconvenience caused by an unwanted event.

Definition in Korean

계약을 어긴 쪽에게 계약상 정해진 금액을 물게 하는 명사.kye ya geul eo gin jjo ge ge kye yak ssang cheong hae jin keu mae geul mul ge ha neun myeong sa

Word origin

The word is formed from Sino-Korean elements for violating a promise or contract and money.

Usage tips

  • When checking a booking or service agreement, this is the useful word for asking whether an extra charge applies and how much it is.

Opposites

  • 면제myeonjeexemptionnoun

Related words

  • 위약wiyakbreach of contractnoun
  • 위약금액wiyakkkeumaekpenalty amountnoun

Word lists with this word