- Exploring the challenges and issues of the global economy amid the prospects of an economic crisis following the global spread of COVID-19

- Webinar hosted in the form of web and mobile apps, and real-time broadcasting around the world through YouTube channels

(Photo 1) The opening presentation by Handong Global University professor Kyu-Bong Cho

Handong Global University (President Soon-Heung Chang) hosted a webinar under the theme of “World Economic Challenges and Issues due to COVID-19” with government-related individuals and professors from Asia, Africa, South America, etc. over the past 22 days.

This webinar was a continuation to the previous webinar titled “Challenges and Issues of Higher Education in Developing Countries due to COVID-19” held on the 11^th of last month and was broadcasted around the world in real-time via the UNESCO UNITWIN YouTube channel.

Government-related individuals and professors from 7 different countries (South Korea, Cambodia, Kenya, Rwanda, Tanzania, and Peru) participated to examine the current economic situation of the world following the spread of the COVID-19 virus and determined the challenges and issues for higher education in a post COVID-19 era.

Through his opening speech, former minister Jae-Yoon Park stated, “With global social distance measures incurring enormous costs to the global economy, this webinar is a significant place for developing countries, who face much more severe economic damage, to consider strategies for countering Corona 19 together.”

In the keynote presentation, Professor Kyu-Bong Cho of Handong Global University (School of Management and Economics) introduced the global economic outlook announced by international organizations, such as the IMF, under the theme of “World Economic Challenges and Issues” and analyzed the implicated economic impacts of COVID-19 such as interrupted supply chains, reduced to an industrial size, etc. Additionally, measures in which the COVID-19 crisis could be made an opportunity, including Fintech and eco-friendly energy, were considered.

(Photo 2) Panel debate with participating government-related individuals and professors

In this webinar, Professor Chib Rata of the University of Panamasastra (Cambodia), Alice Usabamaliya, researcher at the Rwanda National Institute of Policy, Professor Mamazon Rahimov of Westminster International University (Uzbekistan), Professor Judith Pitt of the University of Tanga (Kenya), and Hekima Pengulara of the Tanzania Ministry of Finance and Economy, Professor Ana Gomez of the Catholic University of San Pablo (Peru), and Professor Dong-Sun Yoo of Handong Global University, and Profesor Jin-Won Ahn, a total of 7 individuals led the discussed regarding the future of the world economy.

“COVID-19 has damaged Cambodia's major industry, tourism,” said Professor Chibrata of the University of Panasastra (Cambodia). "It is absolutely necessary to have effective government measures that rebuild the economy."

Additionally, Professor Kennedy Pete of Tangaja University in Kenya said, "The economy of Kenya has been hit hard by the decline in foreign investment following the spread of COVID-19, but it is an opportunity to rebuild economic systems such as the digital economy."

Ana Gomez, a professor at the Catholic University of San Pablo (Peru), added, “To overcome COVID-19, we need to build a new global governance targeting sustainability and inclusiveness.”

Handong Global University continues to conduct non-face-to-face activities, such as hosting webinars and conducting online lectures, to promote capacity building in developing countries, due to limited face-to-face activities with universities and governments in developing countries following this COVID-19 pandemic.

Moreover, Handong Global University will give an impetus to strengthen the accessibility of higher education institutions in developing countries to high-quality tertiary education. This includes promoting the digitalization of education in developing countries and supporting online resource construction as well as accelerating efforts to close the knowledge gap that is expected to expand due to COVID-19.

* UNITWIN (University Twinning and Networking) was established by UNESCO in 1992 with the aim of helping universities in developed countries support education and research institutes in developing countries through forming networks with universities in developing countries. Thereby, reducing knowledge gaps and nurturing self-reliance of developing countries. In South Korea, Handong Global University was designated as the first UNITWIN host university in 2007.

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