South Korea – Universal Basic Income

Gyeonggi Governor pledges to distribute Universal Basic Income if elected President

Gyeonggi Governor Pledges to Distribute Universal Basic Income if Elected President
Jul 22, 2021 – Gyeonggi Province Gov. Lee Jae-myung, the front-running presidential contender for the ruling Democratic Party, made a campaign pledge Thursday to distribute universal basic income of up to 2 million won (US$1,736) per year to all citizens.

Is Universal Basic Income the Key to Happiness in Asia?

Jul 12, 2021 – A look at why unconditional income has gained popularity in South Korea and what we can learn from the largest trial in Asia to date.

Universal basic income gains support in South Korea after COVID

Progressive and conservative lawmakers weigh benefits of program
Sep 25, 2020 – The debate on universal basic income has gained momentum in South Korea, as the coronavirus outbreak and the country’s growing income divide force a rethink on social safety nets.

The concept was thrust into the spotlight in the country when Gyeonggi Province Gov. Lee Jae-myung proposed a basic income of 500,000 won ($430) a year per person this year. He aims to gradually expand the figure until it reaches 500,000 won a month — roughly the equivalent of South Korea’s social welfare payments.

Oct 9, 2020 – To stimulate its pandemic-hit economy, a province in South Korea has been experimenting with universal basic income programs by regularly giving out cash, no questions asked. Now, some politicians want to go national with the concept. Illustration: Crystal Tai/WSJ

South Korea: Gyeonggi’s youth basic income report released

The Gyeonggi Research Institute released “Satisfaction survey report on the youth basic income in Gyeonggi Province” at the start of September.
Gyeonggi Province started the youth basic income, a kind of trial project, last April. The age group of 24 is given 1M Korean Won (about $900) a year in local currency under the project. A satisfaction survey was carried out to find out the recipients’ attitudes toward the youth basic income.