Say "Jae-imdae" Instead of "Master Lease"

The Ministry of Culture, Sports and Tourism and the National Institute of the Korean Language recommended on June 23 that the term "master lease" be replaced with the Korean equivalent "jae-imdae" (sublease). They also suggested "health investment (for old age)" and "health technology" as Korean alternatives for "health tech."

"Master lease" refers to a practice in which an entire building is leased long-term by a specific tenant or a specialized company, which then subleases and manages the property. Specialized companies often handle tenant recruitment, selection of businesses to occupy the building, property management, and remodeling during the contract period, and the term is frequently used when rental income is shared between the building owner and the management company. "Health tech" refers to investments or efforts aimed at ensuring a healthy life in old age. It can also mean health management technologies that combine information and communication technologies with the medical and healthcare sectors.

The Ministry and the Institute selected these alternative terms during the "New Words Committee" held from June 8 to 10. The committee is tasked with providing easy-to-understand Korean alternatives for difficult foreign neologisms before they become widespread. Experts from various fields-including Korean language, foreign languages, education, public relations and publishing, information and communications, and the media-participate in the committee. The Ministry and the Institute plan to continue promoting the use of these alternative terms, encouraging government agencies and media organizations to take the lead.

This content was produced with the assistance of AI translation services.