Choi grabbed the lead on the seventh of 14 laps and slowed down the pace at first. She eventually turned on the jets over the final four laps, and no one could catch her.
She earned silver medals in the women's 1000m and 3000m relay previously.
Fontana earned her third podium finish of the 2022 Winter Olympics, too, and now has 11 career medals, the most in short track history. The Italian is a sprint distance specialist and had not earned a medal in the 1500m since 2014.
Schulting corralled her fourth medal of the 2022 Olympics, the most in a single Games by a female short track skater. Viktor Ahn is the only other athlete to accomplish the feat back in 2006 for South Korea. Schulting won the gold in the women's 1000m event and 3000m relay.
American Kristen Santos missed out on a trip to the A Final after getting bumped in the semifinals. Hungary's Petra Jaszapati shouldered Japan's Kikuchi Sumire into Santos when she was making an outside move.
The American was not in qualifying position when she slid off course, so she advanced to the B Final and lost the chance to contend for a medal.
Santos crashed or was collided with in all three individual distances during her Olympic run. She crossed the finish line second in the B Final behind Kikuchi, who sprinted out in front of everyone and nobody chased her down.
Choi set the Olympic record in her semifinal race at 2:16.831. She now owns the world and Olympic records in the women's 1500m.
The South Korean's victory capped the short track competition at the 2022 Winter Olympics.
South Korea finished with the most total medals, five, while China, the Netherlands, Italy and Canada all collected four.