Woori Bank CEO Jung Jin-wan, fifth from left, poses with Korea Times President-Publisher Oh Young-jin, left, and winners of the 22nd Korea Times English Economic Essay Contest during an award ceremony at Lotte Hotel Seoul, Wednesday. From left are Oh; runner-up Said Jonathan Luviano-Lessie; grand prize winners Alexandra Maria Escobar Garay and Ko Kyung-hwan; Jung; commendation award winner Maftuna Narzullaeva; An Sung-mi, who attended on behalf of her daughter, commendation award winner Lee Hyo-jeong; and Woosong University professor Lee Sang-bok, who attended on behalf of runner-up Khadizha Sultanova. Korea Times photo by Shim Hyun-chul

Seven students from Korea and abroad were honored at the 22nd Korea Times English Economic Essay Contest award ceremony in Seoul, Wednesday.

Open to undergraduate and graduate students in Korea and abroad, the annual contest is sponsored by Woori Bank, an affiliate of Woori Financial Group.

The contest aims to help young people deepen their understanding of economics and finance while strengthening their English writing skills.

The ceremony held at Lotte Hotel Seoul was attended by the awardees, as well as Woori Bank CEO Jung Jin-wan and Korea Times President-Publisher Oh Young-jin.