Would this be accurate (불타오르네)
I'm very slowly learning Korean through Kdrama and Kpop because I'm a college student who doesn't have money for actual lessons.

I've seen that 불타오르네 means something like "it's fire" or "it's burning", but that there's not really a good literal translation for it. I've also seen that it generally expresses amazement or admiration for something.

Would a good translation be "it's fire"? The slang version of the phrase, I mean, like saying "This song is fire!"

Question

Would this be accurate (불타오르네)
I'm very slowly learning Korean through Kdrama and Kpop because I'm a college student who doesn't have money for actual lessons.

I've seen that 불타오르네 means something like "it's fire" or "it's burning", but that there's not really a good literal translation for it.  I've also seen that it generally expresses amazement or admiration for something.

Would a good translation be "it's fire"?  The slang version of the phrase, I mean, like saying "This song is fire!"

Answer

I've had this expression explained to my by a native Korean speaker because I like this song by BTS. Anyways 
볼 can mean fire 
타오르다 means something like blazing or rising up. 
The ending 네 can show surprise or amazement. 
But, yeah we shouldn't try to translate our native slang expressions to another language. Usually there are similar phrases in different languages, however they are not direct translations. Just words or phrases with similar effects not necessarily the same direct meaning.

Answer

I don't think that many people (maybe older) know the phrase it's fire. I think it is from a song.  I think it best when learning another language not to try to take our slang and ask for a translation In their language.  I say this because I have studied many languages and it doesn't usually work that way . Also that expression may be out of use next year.  These expressions come and go.