SEOUL, July 22 (Korea Bizwire) — 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. “Within the (five-year) term of the next administration, (I) will provide 2 million [...]
SEOUL, March 24 (Korea Bizwire) — Gyeonggi Province, which surrounds Seoul, announced Tuesday it will pay 100,000 won (US$79.85) per person to all its residents in April to cope with the economic impact of the coronavirus outbreak. Gyeonggi will be the first local government in South Korea to provide universal “anti-disaster basic income,” while a [...]
SEOUL, March 16 (Korea Bizwire) — Nearly 50 percent of South Koreans support a proposal to provide cash to citizens to help them tackle the economic fallout of the new coronavirus, a poll showed Monday. In the survey by Realmeter on 505 people, 48.6 percent of the respondents favored the idea that the government temporarily [...]
SEOUL, March 16 (Korea Bizwire) — With the coronavirus pandemic threatens economies around the world, debate is rising over the viability of so-called ‘emergency basic income’. South Korea, as well as other countries around the world, are devising ways to distribute cash to encourage consumption. Hong Kong has already announced plans to offer cash to [...]
SEOUL, March 13 (Korea Bizwire) — Jeonju, a southwestern South Korean city, said Friday it will pay half a million won each to about 50,000 citizens suffering economic losses from the coronavirus outbreak. The capital of North Jeolla Province said about 50,000 economically vulnerable citizens, including unemployed people, will receive an “anti-disaster basic income” of [...]
SEOUL, March 10 (Korea Bizwire) — The outbreak of the new coronavirus has sparked a debate over whether South Korea should consider providing basic income to citizens to help them cope with economic fallout from the epidemic. Basic income refers to income evenly distributed to all individuals in society regardless of their wealth level or [...]