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Finance

Economic Essay Contest

Thu, November 26, 2020 | 16:04

Essay awardees suggest fresh ideas for Korea's globalization

Essay awardees suggest fresh ideas for Korea's globalization

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.

Park Jae-hyuk | 2020-11-24 15:28

Bilingual Korea can be worth it, warts and all

Bilingual Korea can be worth it, warts and all

Imagine wandering the streets of Seoul knowing only English. If you're having trouble, maybe think of it like a desperate toddler looking for mom at the mall.

2020-11-23 16:06

Add a little color to white-clad folk's apparel

Treatment of migrant workers won't bode well for economy

Treatment of migrant workers won't bode well for economy

It's no secret that Korea is facing stark demographic challenges: statistics show that it will become the worlds most aged society by 2067. Just last year, the country's birthrate hit a new low (0.92) and the possibility of these numbers dramatically improving are unlikely for the foreseeable future.

2020-11-23 16:06

Add a little color to white-clad folk's apparel

English-speaking Korea can become Asia's economic hub

English-speaking Korea can become Asia's economic hub

In this epoch of globalization that has seen the English language rise in its significance as a cosmopolitan language, the debate of whether English should be made an official language in Korea has been raging on for many years now, especially after the 1997 Asian Financial crisis.

2020-11-23 16:05

Add a little color to white-clad folk's apparel

Holistic approach to immigration needed for Korea

Holistic approach to immigration needed for Korea

Korea's population is shrinking. With the country's birthrate ranked lowest among OECD nations at 0.92 as of 2019, the country's working age population is expected to decline from currently 37.6 million people to 25.6 million people by 2047. Over the same period, GDP growth would slow down significantly into the 1 percent range.

2020-11-23 16:05

Add a little color to white-clad folk's apparel

Add a little color to white-clad folk's apparel

Add a little color to white-clad folk's apparel

A country's sobriquet is usually more telling than its official title. Koreans have historically been called the “white-clad folk.”

2020-11-23 16:04

Eradicate racial discrimination before opening borders

Eradicate racial discrimination before opening borders

In 2019, Korea's birthrate dropped to 0.92, the lowest it's ever been, while in November of the same year, deaths outnumbered births for the first time in the nation's history. These and many other stats show that the Korean population is declining, a dire problem that must be addressed. Maintaining population growth is paramount to sustaining economic growth; hence Korea mus...

2020-11-23 16:04

Add a little color to white-clad folk's apparel

Immigration not the only solution to demographic change

Immigration not the only solution to demographic change

From an agrarian economy in the 1960s to now one of the strongest economic forces in Asia, Korea has evidently achieved tremendous economic growth, which not only comes with fiscal and welfare improvements but also demographic changes. The United Nations predicted that Korea's population will peak in 2024 and decrease from then on and a 2000 UN Population Division report sugg...

2020-11-23 16:03

Add a little color to white-clad folk's apparel

Winners of 16th Economic Essay Contest announced

Winners of 16th Economic Essay Contest announced

The Korea Times is pleased to announce the winners of its 16th English Economic Essay Contest for university students written on one of two subjects: “Should Korea embrace more immigration to ensure sustainable growth?” or, “Do you think Korea should designate English as a second official language?”

Park Jae-hyuk | 2020-11-19 16:54

Essays show ways to create jobs, attract foreigners

Essays show ways to create jobs, attract foreigners

In their award-winning English economic essays, university students suggested fresh ideas in their writing about how Korea can create more “decent” jobs, and the changes needed for the country to attract more foreign professionals to settle here.

Park Jae-hyuk | 2019-11-27 16:49

[Economic Essay Contest] Thriving economy starts with freedom to fail

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