Say "Failure Sharing Meeting" Instead of "Pailcon"

'NFT' Alternative Term Recommended as 'Non-Fungible Token'

The Ministry of Culture, Sports and Tourism and the National Institute of the Korean Language recommended on the 15th that 'failcon' be replaced with the Korean term 'silpae gongyu moim' (failure sharing meeting). They also suggested 'daetche bulga token' (non-fungible token) as the Korean alternative for 'NFT (non-fungible token)'.

Failcon refers to a gathering where entrepreneurs, investors, and other business stakeholders share their failure experiences and discuss solutions. At the new word meeting held on the 2nd, the Ministry and the Institute reviewed the appropriateness and usability of the term and decided on 'silpae gongyu moim' as the replacement. The selection also reflected survey results. In a public acceptance survey conducted from the 3rd to the 9th with about 2,000 participants, 75.6% of respondents answered that the term was appropriate. 64.8% agreed on the necessity of a Korean alternative. NFT refers to a digital asset on the blockchain that is assigned a unique identification value and cannot be replaced by another. The appropriate Korean alternative selected was 'daetche bulga token'.

The new word meeting is a committee that provides Korean alternatives that are easy for the general public to understand before difficult foreign neologisms spread. Experts from various fields such as Korean language, foreign languages, education, publicity and publishing, information and communication, and media participate. The Ministry of Culture, Sports and Tourism and the National Institute of the Korean Language plan to continuously promote the proactive use of these alternatives by government ministries and media outlets.

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