Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
Essay awardees suggest fresh ideas for Korea's globalization
Korea Times President-Publisher Oh Young-jin, right, and Woori Bank CEO Kwon Kwang-seok, left, applaud after giving awards to the winners of the newspaper's 16th English Economic Essay Contest at the Lotte Hotel Seoul, Tuesday. From left are Kwon, Gabriela Bernal, Sven-Hendrik Arp, Jung Ho-joon, Maria Natasha Lintang, Park Han-dol's father who attended the event on behalf of his son, Leah Nangila Nabangi and Oh. Commendation award winner Joshua Chang was unable to attend the ceremony. / Korea Times photo by Choi Won-suk
By Park Jae-hyuk
By Park Jae-hyuk
In their award-winning English economic essays, university students suggested ways for Korea to overcome its demographic challenge that inhibits sustainable growth, and to tear down the language barrier that makes it difficult for foreign businesses operating here.
The Korea Times invited the seven winners of the newspaper's 16th English Economic Essay Contest to an award ceremony at the Lotte Hotel Seoul, Tuesday.
Korea Times President-Publisher Oh Young-jin and Woori Bank CEO Kwon Kwang-seok also attended the event. The bank has sponsored the contest since its inception.
In this year's contest, students were asked to write about one of two subjects: “Should Korea embrace more immigration to ensure sustainable growth?” and, “Do you think Korea should designate English as a second official language?”
In their essays, students from across the world elaborated on their original ideas.
Awardees in the first topic agreed Korea needs to embrace more immigration, but they also advised the country to take a more careful approach to migrants and eradicate racial discrimination before opening its borders.
Those who wrote on the second topic welcomed the idea of designating English as an official language, saying it could motivate more people to come to Korea and eventually help the country become Northeast Asia's economic hub.
The contestants cited various statistics and reports to support their thoughts, while some of them mentioned their own personal experience.
“Korea is an export-reliant country, so it should discuss the various possible benefits of using English as an official language,” Korea Times President-Publisher Oh said. “In addition, Korea has recorded the world's lowest birthrate. Unless its birthrate moves up significantly, accepting a foreign workforce through immigration is unavoidable.”
Woori Bank CEO Kwon said: “The fresh ideas you have proposed will be a great help to those in the relevant fields, not only to Korea Times readers.”
Among the seven winners, Sogang University student Jung Ho-joon and State University of New York (SUNY) Korea student Maria Natasha Lintang won the Grand Prizes for a Korean and an international contestant, respectively.
Another SUNY Korea student Leah Nangila Nabangi and Korea National Open University student Park Han-dol claimed the runner-up awards.
The three Commendation Awards went to Yonsei University Graduate School of International Studies student Sven-Hendrik Arp, University of North Korean Studies student Gabriela Bernal and University of California, Irvine, student Joshua Chang.
“Thank you all very much for giving me the opportunity to just contemplate these contemporary issues that are very important,” Grand Prize winner Jung said.
The other Grand Prize winner, Lintang, who comes from Indonesia, also appreciated the award, saying the event was the highlight of her entire five semesters in Korea.
Each of the Grand Prize winners was given three million won and an award plaque. Each of the runner-ups received two million won and a plaque, while one million won and a plaque were given to each of the Commendation Award winners.