This is the 11062nd most frequent Korean word.
기념식
Commemorative ceremony.
기념식 refers to a ceremony to commemorate an occasion, in this case, for graduation.
학교에서는 졸업 기념식을 개최했습니다.
The school held a graduation ceremony.
기념식 here represents a ceremony to celebrate the founding anniversary of an organization.
우리는 창립 기념식에서 많은 손님을 초대했어요.
We invited many guests to the founding anniversary ceremony.
기념식 in this context is used as part of a memorial service to honor and remember someone.