No way, Jose.
The term is a common phrase in America. When someone uses the phrase they are saying absolutely not or referring to the fact that what is being asked of them is never going to happen.
It can be said in Korean as below.
어림도 없어.[eo-lim-do eop-da] / 택도 없어. [teok-do eop-da]
어림없다[eo-lim-eop-da]: not a chance; (be) nonsensical; absurd; ridiculous; unreasonable
턱없다[teo-geop-da]: far from enough; be groundless; be unfounded; be unreasonable, 택도 없다 is a dialect of 턱없다.
