Bank of Korea Hosts Monetary Policy Contest... Selects Top 7 Teams for Finals

[Image source=Yonhap News]

[Asia Economy Reporter Seo So-jeong] The Bank of Korea announced on the 22nd that it has selected seven top prize teams to advance to the finals in the regional preliminary rounds of the '2022 Monetary Policy Contest' held on the 20th and 21st, hosted by the headquarters and regional offices.

The top prize teams are ▲‘Tonghwaro Tonghada’ team (Dongguk University) ▲‘M.V.P’ team (Sogang University) ▲‘Nae Geumri Nae Gyeote’ team (Dankook University) ▲‘MalBOKkkaji’ team (Chungnam National University) ▲‘Geumri (金利) Ppal’ team (Jeonbuk National University) ▲‘MP Learning’ team (Pohang University of Science and Technology) ▲‘FNMC’ team (Pusan National University).

A total of 75 teams from 42 universities nationwide applied for the contest, and among them, 54 teams that passed the preliminary screening participated in the regional preliminary rounds. The contest was held without an audience to manage the risk of COVID-19 infection.

The participating teams presented their views on recent domestic and international economic trends, future outlooks, and key considerations related to monetary policy, and based on these, proposed opinions on the future direction of monetary policy.

The judges evaluated the winning teams through presentations and Q&A sessions, assessing understanding of the monetary policy system, appropriateness of economic trend analysis and forecasts, rationality of monetary policy decisions, as well as expression and communication skills.

Depending on the number of participating teams in the preliminary rounds, one top prize team, one excellence prize team, and one to three encouragement prize teams were awarded per region (and per group in Seoul). Awarded teams receive commendations from the Governor of the Bank of Korea and prize money.

The seven teams that won the top prize in the regional preliminary rounds qualify to participate in the national finals scheduled for the 12th of next month.