1. A method for photographing a panoramic image in a portable terminal, the method comprising the steps of: detecting Motion Vectors (MVs) of a photographing unit; determining whether a movement direction of the photographing unit is identical to a photographing direction of the panoramic image based on the MVs; acquiring a plurality of images to be used to generate the panoramic image through the photographing unit based on the MVs in response to the movement direction of the photographing unit being identical to the photographing direction of the panoramic image; detecting regions to be included in the panoramic image from the plurality of images; and generating the panoramic image including the detected regions, wherein acquiring the plurality of images through the photographing unit comprises: checking the MVs of the photographing unit; accumulating the MVs of the photographing unit; comparing the accumulated MVs with a predetermined value for acquiring the plurality of images; acquiring one of the plurality of images to be used to generate the panoramic image, when the accumulated MVs reaches the predetermined value; checking the movement direction of the photographing unit according to a direction of the MVs; determining the photographing direction of the panoramic image based on the accumulated MVs; acquiring the one of the plurality of images to be used to generate the panoramic image, when the movement direction of the photographing unit is identical to the photographing direction of the panoramic image; and initializing the accumulated MVs of the photographing unit.