Is color "grading" considered the same as color "correction" ? I checked the wikipedia entry for color grading but it got all into Telecine and my brain got numb.

Just watched a tutorial on this exact thing, oddly enough.

Though the two terms are often used interchangeably, technically "correction" means the fixing of problems, such as poor white balance or inconsistencies between intercut shots.

"Grading" means giving an overall look to a scene (or entire film) for artistic purposes to evoke a particular emotion in the viewer.

grading is an accumulation of all your corrections