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吃一塹長一智 is a Chinese proverb that means “Fall into a moat, and you will gain wisdom from the experience.”
It really suggests that the failures, troubles, frustrations, and setbacks that you encounter in your life are actually helping you to find wisdom. Some would also translate this proverb as “Learn from your mistakes” or “Learn from your experience.”
If you are studying Chinese, you will recognize the first character as “eat,” but in this case, it means to “experience” (as used in this proverb, it is suggesting that you have fallen into a moat and/or had a hard time crossing it).
Translated character by character, this whole proverb is, “Experience one moat, gain one wisdom/knowledge.”
Note: This can be pronounced in Korean, but it's not a commonly used phrase.