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CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.

Winners of 7th Korea Multicultural Youth Awards - Outstanding high school student

Outstanding high school studentsJung inspires with considerate, communicative leadershipJung Da-eunJung Da-eun, 18, is a student president of Geumnam High School in Hadong County, South Gyeongsang Province, where she has proven herself a good leader with smooth communication with fellow students. She formed a “communication department” to gather opinions from freshman and sophomore students and reflect on school policies. She is an enthusiastic student who participates in class activities and inspires other students and teachers with her focused attention on learning materials. She has also won multiple awards in science competitions and Korean language contests at school. Born to a Thai mother and Korean father, Jung volunteers teaching Korean language to children with multicultural backgrounds and provides a friendly ear and helpful advice to those who need it. With her considerate personality, she is good at consulting and listening to other people's problems. She hopes to become a biotech engineer when she grows up. Na commended for her great service spirit in library

Nov 21, 2018
Winners of 7th Korea Multicultural Youth Awards - Outstanding high school student
  • Breaking walls for other multicultural teens

Winners of 7th Korea Multicultural Youth Awards - Outstanding volunteer group

Outstanding volunteer groupsSchool helps boost children's multicultural identity Okcheon Elementary SchoolOkcheon Elementary School in Haenam, South Jeolla Province, collaborates with different regions in Korea, other countries and global organizations to help biracial students develop their identity. With some multicultural students struggling with their studies, the school has been running after-school learning programs since 2013. It also operates language classes twice a week so students can learn the mother tongues of their non-Korean parent, including Cambodian, Vietnamese and Chinese. To help such students be proud of their multicultural backgrounds and be active in school life, it offers them an opportunity to express their talent in front of other students.The school also has exchange programs with schools in different countries and has invited teachers from Indonesia, China and Canada to visit. It is a member of the Associated Schools Project Network (ASPnet).Jiguchon center helps children's adaptation to KoreaJiguchon Part Child CenterJiguchon Park Child Center in Guro-gu,

Nov 21, 2018
Winners of 7th Korea Multicultural Youth Awards - Outstanding volunteer group
  • Breaking walls for other multicultural teens

7th Multicultural Youth Award Congratulatory Speech by Prime Minister Lee Nak-yon

Prime minister Lee Nak-yon / Korea Times file photoWelcome everyone. It's a pity I can only greet you through a video,First, I congratulate all the winners of this year's award.You, the winners, have something in common. You all have bright characters and are active participants. You also know how to share what you have with others. You are bilingual, speaking both your mother's and father's languages, and familiar with both cultures. These traits will be valuable assets to you in the future. We adults will try to create a world where you can utilize these talents.Some have already made efforts to create such a world. It's the teachers at Okcheon Elementary school and activists of Jiguchon Part Child Center. These people have taken care of multicultural families and their children, helping them adapt to our society. They also helped us understand multiculturalism better. To them, I give my congratulations and thanks.Korea is rapidly turning into a multicultural society. However, we are still not ready for these changes. There are many things that must be changed, including education,

Nov 21, 2018
[7th Multicultural Youth Award] Congratulatory Speech by Prime Minister Lee Nak-yon
  • Breaking walls for other multicultural teens

Breaking walls for other multicultural teens

Choi Nyeong-ju, 16, stands outside the main building at Buyeong Girls' High School, a boarding school in Yeosu, South Jeolla Province, Nov. 13. / Korea Times photo by Choi Won-sukGrand prize winner of The Korea Times' 7th Multicultural Youth AwardsBy Lee Suh-yoonChoi Nyeong-ju, 16, is an all-around A student at Buyeong Girls' High School in Yeosu, a small city on the southern tip of the Korean Peninsula. Her strongest subjects are math and Korean. As her mother is from Japan, she also helps out in Japanese class by fluently reading out dialogue passages with the teacher. Now a second-year student, she divides her time between studying and activities ranging from debates to badminton. All the teachers The Korea Times met up with at Choi's campus Nov. 13 called her “a bright student” both in personality and academic achievement. Choi recently earned the highest midterm exam score in her entire grade. Born on Jeju Island and raised in Yeosu since kindergarten, Choi speaks perfect Korean. Though her mother does not speak fluent Korean, she had three older siblings to practice

Nov 21, 2018
Breaking walls for other multicultural teens
  • Winners of 7th Korea Multicultural Youth Awards - Outstanding high school student
  • Winners of 7th Korea Multicultural Youth Awards - Outstanding middle school student
  • Winners of 7th Korea Multicultural Youth Awards - Outstanding elementary school student
  • Winners of 7th Korea Multicultural Youth Awards - Outstanding volunteer group
  • Winners of 7th Korea Multicultural Youth Awards - Special awards
  • 7th Multicultural Youth Award Congratulatory Speech by Prime Minister Lee Nak-yon

Essay awardees promote ideas on Korea's growth, cryptocurrencies

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-chulBy 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 w

Nov 15, 2018By Lee Kyung-min
Essay awardees promote ideas on Korea's growth, cryptocurrencies

Grand Prize Cryptocurrencies walking regulatory tightrope

Kim Jung-hyunBy Kim Jung-hyunBefore plummeting in value, cryptocurrencies were collectively worth over $800 billion, nearly doubling the value of Samsung Group. While the bubble has since burst, cryptocurrencies are still regarded as being pivotal to the Fourth Industrial Revolution. Prior to their sudden rise, cryptocurrencies started out as secure digital currencies untethered to financial institutions that could be used anonymously across the globe. However, given their extremely high volatility, cryptocurrencies are seldom used for everyday transactions. They have consequently become either risky investment assets or a tool for money laundering. Furthermore, because the only intrinsic value of cryptocurrencies is their utility, they are prone to price manipulation and speculative investment. All things considered, swift regulation is sorely needed to protect investors while steering the industry away from the black economy and towards innovation.The obvious first target of regulatory action is coin exchanges. Currently, the largest problem regarding cryptocurrencies is that every

Nov 14, 2018
[Grand Prize] Cryptocurrencies walking regulatory tightrope
  • Runner-up Prize Can digital coins be regulated?
  • Grand Prize Korea urged to better utilize human resources
  • Runner-up Prize Can Korea repeat Miracle on the Han River?
  • Commendation Award Government should let markets regulate digital currencies
  • Commendation Award Korea should foster more innovative services industry
  • Commendation Award Integrity of cconomy: cryptocurrency regulation

Commendation Award Government should let markets regulate digital currencies

By Sean BahkBlockchain, bitcoins, and ripple. Sean BahkA few years ago, such terms were unbeknownst to the Korean public. Now, they have become a household name. Regulations are being imposed on both a national and international level with G20 countries. The South Korean government has been dealing with this issue primarily through the Financial Services Commission (FSC), even revising its regulations this July to embrace such phenomenon. This movement, however, raises the question, “Is regulation necessary for cryptocurrencies?” The answer? No. The market will adjust accordingly, regulation only brings forth more serious problems, the decision to partake in such transaction is completely voluntary, and if anything, cryptocurrencies have been a source of healthy academic and economic stimulation.The market economy, or an economy that arises from the decentralized decisions of many firms and households, will render governmental regulations unnecessary. The free market argument, supported by renowned economists such as Adam Smith and Friedrich Hayek, states that the

Nov 14, 2018
[Commendation Award] Government should let markets regulate digital currencies
  • Grand Prize Cryptocurrencies walking regulatory tightrope

Commendation Award Korea should foster more innovative services industry

By Min Sung-junMin Sung-junIn the last half-century, South Korea has undoubtedly served as a model for developing countries, with commendable economic growth enabling it to become the 11st largest economy in the world with a nominal GDP of $1.54 trillion. This remarkable growth has been largely fueled by family-owned conglomerates called “chaebol” and open-market policies that have given South Korea comparative advantage in global markets. However, these very own reasons that led the so-called “Miracle on the Han River” is slowly emerging as a major obstacle to South Korea's sustainable economic development with the economy stagnating since the early 2010s.Giant conglomerates such as Hyundai and Samsung are widely credited as the backbone of South Korea's economy. Due to chaebol' instrumental role in transforming South Korea from a poor, war-torn country to an economic powerhouse, they have enjoyed unprecedented access to and support from the government. This has led to many issues regarding nepotism and corruption, most notably publicized through the 2016 Sou

Nov 14, 2018
[Commendation Award] Korea should foster more innovative services industry
  • Grand Prize Cryptocurrencies walking regulatory tightrope

Grand Prize Korea urged to better utilize human resources

Olivia HanBy Olivia HanSouth Korea's rise from the traumatic experience of the Korean War to its current position as the 11th largest global economy was due to careful planning, bold leadership, risk taking entrepreneurs supported by the state, and resilient, hardworking workers. Due to South Korea's economic prosperity, the nation reached a high literacy rate, lowered infant mortality to that of developed nation status, supported the rise of a solid middle class, and led to one of the highest average life expectancy in the world. In addition, South Korea's economic prowess has allowed the country to host two highly successful Olympic Games highlighting the nation's elite athletes ranging from swimming to archery to figure skating. Furthermore, South Korea's highly educated workforce has allowed for the rise of globally recognized companies like Samsung Electronics and Hyundai Motors.President Moon Jae-in speaks at a meeting to discuss strategies for a “fair economy” at COEX, southern Seoul, Nov. 9. The meeting was attended by the ministries of justice, industry, health a

Nov 14, 2018
[Grand Prize] Korea urged to better utilize human resources
  • Grand Prize Cryptocurrencies walking regulatory tightrope

Commendation Award Integrity of cconomy: cryptocurrency regulation

By Minjei Sky ParkMinjei Sky ParkThe rise of cryptocurrency in the past decade is more than simply a technological feat; it is a real-world incarnation of an experimental monetary system. As with any unprecedented innovation, the technology's bounds have yet to be measured. Hence, it seems imperative that a governing body implements some regulatory measures to maintain the integrity of the nation and its economy.A key concept to establish before moving forward is the nature of regulation noted in the essay. When discussing whether Korea should regulate cryptocurrencies, it would be remiss to assume that a complete ban or a 1984-esque?oversight will be in order. Rather, it would be beneficial to all involved parties to primarily establish a “regulatory sandbox,” in which the intricacies of cryptocurrencies can be explored, and later implement a framework to combat price manipulation.But why should Korea even bother to attempt regulating cryptocurrencies? After all, Andreas M. Antonopoulos, one of the world's foremost bitcoin and open blockchain experts, claims that regulat

Nov 14, 2018
[Commendation Award] Integrity of cconomy: cryptocurrency regulation
  • Grand Prize Cryptocurrencies walking regulatory tightrope
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