망건 쓰자 파장된다

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Literal Meaning

Just as one puts on one's headband, the state examination ends.

Usage

Used to describe a situation where an opportunity has expired just as one finished preparing to take advantage of that opportunity.

Koreans have a tradition of wearing headbands as a symbol of their determination to overcome a difficult situation or to win a difficult struggle, such as workers striking for better pay and conditions. Students preparing for difficult state examinations in both old and modern Korea have also been known to wear such headbands to show their determination to pass the exams. Phrases such as 필승 (certain victory) are often written on the headbands.

Korean Equivalent

하고자 하는 일을 준비하다가 그만 때을 놓쳐 그 뜻을 이루지 못 하였다는 뜻.

English Equivalent

Too little, too late. Muddle away one's opportunities.

Other Sources

Also see