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| Korea Times President-Publisher Lee Byeong-eon, third from right, and Woori Financial Group Chairman Sohn Tae-seung, third from left, congratulate winners of the 14th English Economic Essay Contest at The Seoul Plaza, Monday. From left are Sean Bahk; Kim Chee-sue; Sohn; the father of Olivia Han; Kim Jung-hyun; Lee; Park Min-jei; and the father of Min Sung-jun. University of Cincinnati student Aaron Lefler-Moore was unable to attend the ceremony. Korea Times photo by Shim Hyun-chul |
By Lee Kyung-min
College students who wrote award-winning English economic essays suggested fresh ideas in their writing about whether Korea should regulate cryptocurrencies, and ways for the country to spur economic growth.
The Korea Times held an awards ceremony for its 14th English Economic Essay Contest sponsored by Woori Bank at The Seoul Plaza, Autograph Collection hotel, Thursday.
The seven contest winners were invited to the event, attended by Korea Times President-Publisher Lee Byeong-eon and Woori Financial Group Chairman Sohn Tae-seung.
For this year's contest, Korean students were asked to write about regulations on digital currencies, while foreign participants were encouraged to come up with ideas that would provide impetus for economic growth.
In their essays, the Korean awardees elaborated on their original ideas based on personal experience.
Some called on the government to let market forces hold sway over the new method of investment rather than banning cryptocurrencies outright, whereas others said swift regulation was needed to protect investors while steering the industry away from the black economy and toward innovation.
International students advised Korea to better utilize its human resources and take bolder measures to bolster more innovative services.
"The contest was designed to promote Korean collegians' understanding about their country's economy and improve their English writing skills," Korea Times President Lee said.
"This year's subjects concerned one of the two most important issues in Korea but writing about it in a compelling manner is not an easy task. The winners, however, made strong arguments with great success."
Woori Chairman Sohn said, "The awardees have shown excellence not just in their English writing skills but also in their understanding of Korea's urgent agenda."
He added, "As a representative of a financial company that has aggressively expanded its global presence in recent years, I believe the awardees not only deserve praise for their work in the contest but also have shown tremendous promise for any field they choose to follow in the future."
Among the seven winners, Korea University student Kim Jung-hyun and Boston University student Olivia Han won the Grand Prizes for domestic and foreign entries, respectively.
Seoul National University student Kim Chee-sue and University of Cincinnati student Aaron Lefler-Moore claimed the runner-up awards.
The three Commendation Awards went to Hong Kong University of Science and Technology student Min Sung-jun, Swarthmore University student Park Min-jei and Yonsei University student Sean Bahk.
Han, Min and Moore could not make it to Seoul, and the fathers of the two Korean students accepted the prize on their behalf.
"It was an issue that I have maintained keen interest in. I wrote what I felt over the course of my investment journey and it was a great opportunity for me to have my thoughts organized in a short essay," said Kim Chee-sue who wrote about digital coins.
The Grand Prize and Commendation Award winners were given round-trip tickets for international and domestic routes, respectively. The runners-up received laptop computers.
