Progressive Party 'Sidae Jeonhwan' Founded... Basic Income Advocate Lee Won-jae Participates

[Asia Economy Reporter Park Cheol-eung] A new political party named ‘Transition Era, a Living Progressive Platform’ (Transition Era) is being formed. Lee Won-jae, CEO of LAB2050, and Cho Jung-hoon, director of the Ajou University Institute for Unification Studies, are participating.

CEO Lee advocates that a national basic income system of 300,000 KRW per month can be introduced from 2021 by eliminating tax reduction systems such as income deductions and tax credits.

Transition Era has completed the application process for the party formation preparatory committee and announced on the 21st that it will hold a founding declaration ceremony on the afternoon of the 22nd at ‘Community House Masil’ in Jung-gu, Seoul, aiming for an official founding in mid-next month.

It introduced itself as a new political group led by the 30s and 40s generation seeking integration and the future beyond the current political structure where the values of industrialization and democratization have conflicted and clashed. Instead of abstract political agendas, it intends to focus on issues to be resolved in daily life.

Kim Jong-in, chairman of the Korea Development Strategy Institute who participated as a presenter at the Transition Era’s ‘Future of Politics’ forum on the 15th, said, "Progressives and conservatives have governed the country for 15 years each, but from experience, they are practically the same," adding, "Now is the right time for the emergence of a third political force."

Along with CEO Lee and Director Cho, about 20 non-politicians are participating as horizontal operating committee members, and about 200 people from various fields are participating as key supporters.

Transition Era stated, "No specific individual leads it, nor is it obsessed with any particular ideology," and added, "We aim to plant new hope for innovation and political reform in the April 15 general election by overcoming the customs and limitations of existing elections."