채무불이행이 · 채무불이행을
default (on a debt), failure to repay
Example
그 나라는 결국 채무불이행을 선언했습니다.
That country eventually declared a default.
Word parts
채 debt+무 duty+불 not+이 carry out+행 do
Literally 'debt duty not carried out'.
Good to know
For a country's default, news often uses the loanword 디폴트; 채무불이행 is the formal term.
Related words