Say "Gonghwang Maedo" Instead of "Panic Selling"

[Image source=Yonhap News]

[Asia Economy, reporter Lee Jongil] The Ministry of Culture, Sports and Tourism and the National Institute of the Korean Language recommended on the 17th that the terms "panic selling" and "blind fund" be replaced with the Korean expressions "gonghwang maedo" (panic selling) and "toojacheo miteukjeong gigum" (fund with unspecified investment destinations). "Panic selling" refers to a phenomenon in which investors sell off their stocks in large quantities when stock prices fall due to sudden factors. A "blind fund" refers to a fund that first raises capital from investors and then determines where to invest that capital.

The two organizations decided at a neologism review meeting, which concluded on the 11th, that "gonghwang maedo" (panic selling) and "toojacheo miteukjeong gigum" (fund with unspecified investment destinations) are appropriate Korean alternatives. The neologism review committee is operated to provide easy-to-understand Korean alternatives for difficult foreign terms before they become widespread. In addition to Korean language experts, the committee includes specialists from various fields such as foreign languages, education, public relations and publishing, information and communications, and the media.

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