South Korea has finished third at the 49th International Physics Olympiad, winning four gold medals and one silver.

The Ministry of Science and ICT and Korea Foundation for the Advancement of Science and Creativity on Monday announced Team Korea's performance at this year's event held in Lisbon, Portugal from July 21st to the 29th.

China ranked top out of the 87 competing nations with five gold medals to defend its title for the 15th straight year since 2004. 

India finished in second place followed by South Korea tied in third with Russia, Taiwan and Singapore. Team Korea had tied for first place in the previous two Olympiads.

Students under 20 years old who have not received university-level education can compete in the Physics Olympiad, which was launched in 1967. 

About eight percent of participants clinch a gold medal, while around 17 percent win silver and 25 percent claim bronze.