Under-20 world champions after Dominic Calvert-Lewin's goal decided a dramatic final in Suwon.
It was the first time an England side had reached a world final since Bobby Moore, Bobby Charlton, Geoff Hurst and company won the Jules Rimet Trophy at Wembley in 1966.
But England did hold on, and celebrated wildly when the full-time whistle was blown, hugging their match-winning goalkeeper, as they lay down a marker for a golden generation of young English footballers. Or will this prove to be just another false dawn?
England then nearly extended its lead out of nowhere.
After a slow start the game was lit up by an audacious long-range effort after 16 minutes from Ronaldo Lucena, whose swerving, dipping free-kick from all of 40 yards clipped the outside of a post. Woodman was not alone in expecting a cross, but he would have struggled to save the effort even if he hadn't been 6 yards off his line.
Calvert-Lewin only made his first appearance for Everton in the second half of last season. The forward beat a defender to a free kick from Lewis Cook, had his first shot saved by Venezuela keeper Wuilker Farinez but reacted quicker to the rebound.
An Everton side including Kenny, Calvert-Lewin and Dowell won the inaugural PL2 competition for under-23 players, created to bridge the gap from academy football to the first team.
England made most of the running in the first half though Venezuela looked risky in attacking areas. Penaranda tried to go straight down the middle, but the goalkeeper got a trailing leg to it to keep him out. Now, however, he is one of the country's most high-profile young talents.
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In total, 215 claims were investigated by Perkins Coie, with 100 resulting in no action, a source told NBC News. The Perkins Coie probe is separate from one being done by former Attorney General Eric Holder .
Asked what he was thinking when Venezuela were awarded the penalty - a decision referred to the video assistant referee being used in the competition - Cook said: "I was looking at Freddie thinking "come on, you can do this, you can save us" and he did".
Newcastle United's Freddie Woodman put in yet another inspirational performance on Thursday against Italy, his display helping to send England into today's final. Venezuela's star man Adalberto Penaranda struck straight down the centre of the goal and though Woodman dived to his right, he was able to outstretch his left arm and claw the spot-kick away.
After the torpor of the senior team's 2-2 draw against Scotland the previous night, the nation's kids took on Venezuela in the final of the Under 20's World cup and smashed it. Did it warrant a red card?
Former skipper Wayne Rooney added his praise, tweeting: "Congratulations to @England U20's who are World Cup winners". England have enjoyed relative success at youth level before, however, notably losing to Germany in the final of the European Under-21 Championship in 2009, but failed to build on these at senior level.
While all eyes had been initially fixated on Solanke, another impressive cameo from Ojo also caught the eye.
Key to that will be opportunities at club level and England's heroes will hope to use this triumph as a springboard.
"To be one of only three Englishman to have scored in a World Cup final is incredible".
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