민영화
The transfer of ownership, property, or business from the government to the private sector. It is often done to increase efficiency and competition.
Examples
3 of 5철도 민영화는 서비스 질 향상과 요금 인상이라는 두 가지 측면을 가집니다.
Railroad privatization has two aspects: service quality improvement and fare increases.
정부는 경영 효율성을 위해 일부 공공 서비스를 민영화하기로 했습니다.
The government decided to privatize some public services for management efficiency.
민영화 이후 기업의 수익성은 크게 개선되었습니다.
Since privatization, the company's profitability has significantly improved.
Word Family
Memory Tip
Min (Private/People) + Yeong (Manage) + Hwa (Become).
Quick Quiz
정부는 공공 부문의 효율성을 높이기 위해 ( )를 검토 중이다.
Correct!
The correct answer is: 민영화
Examples
철도 민영화는 서비스 질 향상과 요금 인상이라는 두 가지 측면을 가집니다.
academicRailroad privatization has two aspects: service quality improvement and fare increases.
정부는 경영 효율성을 위해 일부 공공 서비스를 민영화하기로 했습니다.
formalThe government decided to privatize some public services for management efficiency.
민영화 이후 기업의 수익성은 크게 개선되었습니다.
businessSince privatization, the company's profitability has significantly improved.
수도 민영화가 되면 물값이 오를까 봐 걱정돼요.
everydayI'm worried that water prices will rise if water is privatized.
민영화한다고 다 좋아지는 건 아니잖아.
informalPrivatizing everything doesn't mean it all gets better.
Word Family
Common Collocations
Common Phrases
민영화의 폐해
the harmful effects of privatization
민영화 논란
privatization controversy
공공기관 민영화
privatization of public institutions
Often Confused With
Sayuhwa is simply making something private property; Minyeonghwa specifically refers to taking a government entity and making it private.
Usage Notes
A high-frequency topic in IELTS Academic Writing Task 2 regarding the role of government and economy.
Common Mistakes
Don't confuse with '민주화' (democratization).
Memory Tip
Min (Private/People) + Yeong (Manage) + Hwa (Become).
Word Origin
From Sino-Korean 民 (people) + 營 (manage) + 化 (change).
Grammar Patterns
Cultural Context
Privatization of utilities (water, electricity, trains) is a sensitive social issue in Korea.
Quick Quiz
정부는 공공 부문의 효율성을 높이기 위해 ( )를 검토 중이다.
Correct!
The correct answer is: 민영화
Related Vocabulary
More economics words
효율적
B2Achieving maximum productivity with minimum wasted effort or expense.
추세
B2A general direction in which something is developing or changing; a trend.
혜택
B2A benefit, advantage, or favor received from a person, institution, or situation. It is widely used in business, welfare, and policy contexts.
비중
B2The relative importance or weight of something within a whole. It is often used when analyzing statistics, charts, or social trends.
전망
B2The outlook, prospect, or forecast for the future. It can also refer to a physical view from a high place.
상쇄하다
B2To offset, counterbalance, or cancel out the effect of something by having an equal and opposite effect.
위기
B2A time of intense difficulty, trouble, or danger. It is a critical turning point where a situation may significantly worsen or improve.
유입
B2The act of flowing or coming into a place. It is used for liquids, populations, capital, or influence moving into a specific area.
변동
B2The state of changing or fluctuating. It is mostly used to describe changes in numbers, prices, weather, or unstable situations.
정체되다
B2To be at a standstill or to stagnate. It is used for traffic, economic growth, or progress that has stopped moving forward.
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