Twenty students have applied to form a group representing Ewha in the second Virtual Trading System. There are approximately thirty other universities competing in the contest and about 600 individuals in total, are involved. The contest will last three weeks, from April 10 to May 19, and the group that earns the most virtual profits will be awarded fifty million won.
According to Lim Seon Young (Consumer Science and Human Development, 4), there has to be a winning strategy in order to earn profits. "Because not all the participants of the contest have vast knowledge about stock markets and bonds, we felt the need to study more in depth about stock investments," said Lim. The Ewha team formed a study group that meets every morning for thirty minutes at the Posco Building to discuss stock-related issues and trends from newspapers.
"Unlike fund items, stocks and bonds are not familiar to students," said Kang Ji-hyun (Psychology, 4), another participant of the contest. "By participating in this contest, students realize that stock investment is feasible and can be done with a minimum amount of capital." However, Kang mentions that because the contest lasts only for three weeks it is difficult to practice long-term investment strategies during the contest.
Pong Yun-jung (Economics, 4), the president of the Ewha team, says that taking part in this contest is not only an intellectually enriching and stimulating experience, but also highly meaningful in that students with same goals and motives have gathered together to create an outcome.