From Reference
In Korean, the possesive particle is -ÀÇ but it is normally pronounced -e. The equivalent of ÀÇ to English is 's.
Here are some examples:
Mr Park's Book
¹Ì½ºÅÍ ¹ÚÀÇ Ã¥
Chinese Currency
Áß±¹ÀÇ ÅëÈ
If the possesion of the object is clear then the possesive particle can be left out.
Our School's Playground
¿ì¸® Çб³ ³îÀÌÅÍ
Also when you use ³ª, ³Ê and Àú with the possesive particle you can contract them.
³ªÀÇ --> ³»
³ÊÀÇ --> ³×
ÀúÀÇ --> Á¦
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