The Korea Times is pleased to announce the winners of its 20th English Economic Essay Contest for university students.

The contestants wrote essays on one of two subjects: "Foreigners have become an indispensable part of Korean society, and their ratio is expected to continue to surge. Suggest tips for the banking industry to attract and better serve foreign customers" and "One of the Korean stock market's chronic problems is the so-called Korea discount, referring to a long-standing tendency of listed companies' undervaluation compared to their fundamentals. Discuss your assessment of the issue and suggest effective measures that can provide a solution."