While “terms” refer to technical terms which are defined within a discipline or specialized field, “terminology” is the study of terms and their use. The foci of terminology are to document how terms come into existence and their interrelationships within a culture, to analyze words being used in specific contexts, and to promote their correct usage. Although terminology can be limited to one language, multilingual terminology, including bilingual terminology, is an invaluable discipline which can help enhance the quality of translation by enabling the translator to use appropriate terms to befit the context, target readership, and subject domain of the text to be reformulated in the target language. This paper aims to establish two needs: first, an application-oriented need to exploit bilingual term databases in the process of translating in order to facilitate the translator's translation work, and a more theory-focused need to make the most of terminology in translation studies as an interdiscipline where standardization of terminology is urgent in order to promote more effective discipline-internal communications amongst scholars with different theoretical and conceptual backgrounds. Thus, the first part of this paper briefly discusses the theoretical background underlying different approaches to terminology. Secondly, different forms of electronic term storage and dissemination systems are introduced, followed by a case report of a Swiss-headquartered multinational term database company. Then it is argued, by summarizing a prior research report in this field, that terminology should be urgently introduced in translation studies in Korea as a way to promote discipline-internal communication effectiveness and efficiency.