This is the 4307th most frequent Korean word.
취소
Cancellation.
In this sentence, '취소' (cancellation) is used to indicate the act of canceling a reservation.
예약을 취소했습니다.
I canceled the reservation.
Here, '취소' (cancellation) is used in a passive construction to describe the meeting being canceled.
회의는 취소될 것 같습니다.
It seems that the meeting will be canceled.
In this sentence, '취소' conveys the sense of an agreement becoming null or void.