It’s easier than you think to manage multiple languages in the SharePoint 2010 term store manager through the use of their Multilingual User Interface (MUI) and without the installation of any language packs. Daunting though this task may seem, selection and integration of different languages is easily achieved.
Be forwarned, though, that this is not a ‘translation’ service that will magically transform your taxonomies into other languages. You’ll still need the services of a translator/localizer to make your taxonomy relevant and useful. Or, for limited use cases, you can use Google Translate, for example.
Check out a quick video to get a feel for the use of multiple languages in the SharePoint 2010 term store manager.