Im Jong-seok: "Universal Basic Income Payment, Unrealistic Desk Theory"

Im Jong-seok, Special Advisor for Foreign Affairs to the President

[Asia Economy Reporter Koo Chae-eun] Former Presidential Chief of Staff Im Jong-seok continued his sharp criticism regarding the 'basic income policy' initiated by Lee Jae-myung, Governor of Gyeonggi Province.

On the 14th, former Chief Im stated about the basic income system, "Paying everyone equally regardless of assets or income is neither just nor realistic."

Former Chief Im pointed out, "If we pay all members of society equally regardless of their assets, employment status, or income level, it would be difficult to provide even 200,000 KRW per month, even if we consolidate all the welfare systems our country currently has." He added, "If the proposal is to maintain basic pensions, basic livelihood security, unemployment benefits, and child allowances while also implementing a basic income system, then it would be a basic income without the 'basic' or a theoretical discussion without financial measures."

Former Chief Im said, "The concept of basic income is often confused," and explained, "Guaranteeing a basic income to all people and paying everyone equally regardless of assets or income are quite different, and considering practical means, they even conflict. I look forward to a healthy debate."

He then mentioned Pope Francis, Microsoft (MS) founder Bill Gates, and Tesla CEO Elon Musk. Former Chief Im said, "The Pope suggests considering measures to guarantee universal basic income for human dignity and Christian values, citing examples such as people without jobs or those who contribute socially but are not evaluated in the market or are pushed into low income."

He continued, "To summarize Bill Gates' argument, it is to impose taxes on profits generated by AI (artificial intelligence) and robots to support the livelihood and consumption of workers who have lost their jobs," and "Elon Musk's view that some form of universal basic income will eventually be inevitable also reflects concerns about a society where AI and robots gradually reduce the tasks humans can perform, leading to job losses."

He said, "Many other global figures have established foundations and made enormous donations while advocating that extreme polarization and the Fourth Industrial Revolution threaten the rights and dignity of people unprotected by the market, and that this situation endangers the virtuous cycle of capitalism." He added, "I believe many who support basic income share this awareness of the problem, but the voices advocating basic income in our society now are often addressing very different issues."

Former Chief Im had previously rebutted on the 10th, a day after Gyeonggi Governor Lee Jae-myung promoted basic income as a core policy and said, "Pope Francis supported basic income," by stating, "What the Pope proposed was not basic income but a living wage system."