- 天地 (천지) means "heaven (天) and earth (地)," which can be translated as "the world."
- 者 (자) means "thing" or "person," but it can also be used as a topic marker, similar to either 는 or 이란 in Korean.
- 萬物 (만물) literally means "ten thousand (萬) things (物)," but is usually translated as "all living things."
- 之 (지) is a possessive marker, similar to 의 in Korean.
- 逆旅 (역려) literally means "welcomes (逆) travelers (旅)," but is usually translated as "an inn" or "guest-house," or 여관 (旅館) in Korean.
- 光陰 (광음) literally means "light (光) and shade (陰)," and is another way of saying "歲月 (세월)," which means "sun (歲) and moon (月)." 歲月 is usually translated as "time."
- 者 (자) again means "thing" or "person," but it also can be used as a topic marker, similar to either 는 or 이란 in Korean.
- 百代 (百代) literally means "one hundred (百) generations (代)," and is usually used to refer to "a very long time."
- 之 (지) again is a possessive marker, similar to 의 in Korean.
- 過客 (과객) means "a passing (過) guest (客)" or "passing traveler."
Therefore, 天地者萬物之逆旅, 光陰者百代之過客 translates as follows:
The world (天地者) is [like] an inn for all living things (萬物之逆旅), [and] time (光陰者) is [like] a passing traveler for a hundred generations (百代之過客).
천지는 ( 天地者) 만물의 (萬物之) 역려 (逆旅)이고, 광음은 (光陰者) 백대의 (百代之) 과객 (過客)이다.This passage seems to be saying that the world is only a temporary lodging for mankind, and time is so infinite that, for it, the span of a hundred generations is like an overnight stay.