Gyeonggi-do Implements Basic Income For Young People


Jessie Jihun Kim

Gyeonggi-do began to implement the basic income policy for young people. According to Gyeonggi-do Assembly, the registration for the basic income for young people in the first quarter of 2020 has started. Every young person, who is 24-year-old in international age and has lived in Gyeonggi-do for more than three years or more than 10 years in total, can apply to the basic income from March 2 nd to April 1 st . If one applies to the basic income, regardless of one’s income the person can get ₩250,000 per each quarter and can get ₩1,000,000 in maximum.

What Is The Basic Income?
The basic income policy is for the young so as to make a realization of the fundamental rights of the young in society as partial universal basic income. Universal basic income is the idea that every citizen is given minimum cost of living without laboring regardless of gender, income, or creed—appeared as a solution of the issues such as unemployment or economic depression. Aleksi Neuvonen (2019), a founder of Demos in Finland, stated society should provide the same benefits with the respect to everyone’s well-being life: universalism. It is important that universalism focuses on everyone instead of selecting groups of people in society because it refers that anyone has an equal right to get social wealth distribution.

However, universal basic income has been issued because many thought the universal basic income policy is driven from left-wings or progressive parties. Some opponents of universal basic income argue that universal basic income can trigger inflation of the economy and the nation cannot afford to support the amount of money for the policy. In addition, the opponents of universal basic income insist that unemployment would increase when implementing UBI due to unwillingness to work. Opponents of UBI argue that free money would lead people to get rest of hard working.

According to the research of Gyeonggi-do province in 2019, the result of 124,335 of young people showed that 80.6% of people surveyed ‘satisfaction’ and only 4.9% of people chose ‘dissatisfaction’ for 2019 the basic income for the young policy. Some people hope the basic income policy in 2020 to be breath of the young and one of the solutions of economic depression due to corona virus.