Wednesday, August 12, 2020

After universal cash relief, South Korea is showing increasing interest in universal basic income

Gyeonggi Province Gov. Lee Jae-myung announces a basic income program designed to help residents and local businesses weather the impact of the coronavirus outbreak on March 24 at the provincial government building in Suwon. (Gyeonggi Province). When Gyeonggi Province Gov. Lee Jae-myung first brought the idea of universal basic income to South Korea’s political arena years ago, it was quickly dismissed as too far-fetched and populist. Now, the COVID-19 crisis put the universal basic income — periodic cash payments to all citizens — high on the agenda on both sides of the political aisle after the government’s one-off cash payments during the height of the virus crisis received widespread public support. Read More