Pukyong National University Student Team Wins Excellence Award at Bank of Korea Monetary Policy Competition

(From left) Students Lee Eun-su, Lee Yu-gyeong, Choi Jin-hyeok, and Kim Seong-ju are taking a commemorative photo for winning the competition.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] A student team majoring in Business Administration at Pukyong National University received an Excellence Award and a prize of 2 million KRW at the '2022 Bank of Korea Monetary Policy Competition Bu-Ul-Gyeong Preliminary Contest.'

The student team consisted of senior Business Administration major Lee Yu-gyeong, junior Accounting and Finance major Lee Eun-su, senior Economics majors Kim Seong-ju and Choi Jin-hyeok, under the guidance of professors Hwang Seon-ung and Kim Sun-ho.

At the competition held on the 20th and 21st, seven teams that passed the preliminary round competed by presenting their views on domestic and international economic trends and outlooks, key considerations related to monetary policy, and opinions on the future direction of monetary policy, followed by a Q&A session.

The Pukyong National University team presented on the global economy, domestic real economy, price instability, and financial stability, advocating for a '50bp (big step) interest rate hike' at the July monetary policy meeting, receiving high praise.

The judges evaluated the teams based on their 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 to determine the winning teams.

The teams awarded the top prize and excellence award at the regional preliminary contest of the competition will receive preferential treatment in document screening when applying for new employee recruitment at the Bank of Korea for the next five years.

The Bank of Korea Monetary Policy Competition has been held since 2003 to allow university students to simulate the monetary policy decision-making process and to enhance understanding of the Korean economy and monetary policy.

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