"지갑"

Translation: A wallet

[CF00l]

紙匣

[YW7k14]

And how can this help me improve

[SeanFogart4]

You can see a bit of the meaning. It looks like paper case to me, so I'd say it's closer to billfold/notecase/banknote holder/whatever. You can recognize these elements when they show up in related words. You can distinguish between homonyms in writing. More people read and write with these than speak English, let alone Korean. I'd be lost without them, and I'm definitely not Chinese nor even Asian . . .