Gyeonggi-do to Introduce Kim Dong-yeon's 'Opportunity Income' Following Lee Jae-myung's 'Basic Income' Plan

Gyeonggi Province Governor Kim Dong-yeon is responding to questions about provincial administration at the Gyeonggi Provincial Assembly held on the 22nd.

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province Governor Kim Dong-yeon is drawing attention by presenting a new concept called 'Opportunity Income' to realize his core administrative value of 'creating more and more equitable opportunities.'

Gyeonggi Province previously introduced 'Basic Income' during the tenure of former Governor Lee Jae-myung. Many local governments nationwide, including cities and counties within the province, have adopted it, with the COVID-19 related 'Disaster Basic Income' being a representative example.

On the 22nd, during the 3rd plenary session of the Gyeonggi Provincial Council, Governor Kim stated in a Q&A session on provincial administration, "All issues in our society, economy, and education are connected to opportunities, which signify dynamism. I will pay attention to creating more and more equitable opportunities," adding, "From this perspective, I intend to introduce the concept of Opportunity Income. This means providing a chance for income compensation over a certain period to those who create value in our society but are not rewarded."

This is the first time Governor Kim has mentioned Opportunity Income.

On the same day, he explained the background of introducing Opportunity Income by citing support for cultural artists as an example, expressing his intention to start with this sector. Governor Kim pointed out that the existing artist creation support fund is a one-time aid with the nature of disaster relief and emphasized the need for measures for cultural artists who engage in creative activities but do not receive compensation due to lack of market recognition.

Governor Kim elaborated, "Income compensation for cultural artists should be approached from that perspective," and added, "For cultural artists, if they engage in a certain level of cultural creative activities, I pledged to recognize that value and provide an opportunity for income compensation over a certain period."

He also said, "In the case of persons with disabilities, for example, if they engage in activities for a certain amount of time and take care of their health, thereby ultimately reducing social costs, I believe that also creates value," and added that he plans to expand the concept of Opportunity Income to various policy fields.

He emphasized, "More concrete details will be established through this supplementary budget to define the concept and set future directions."

In relation to this, the province included a budget of 50 million KRW for the 'Artist Opportunity Income Policy Research Project' in this supplementary budget. The province plans to specify the support targets and scale through the research project by next year.

As a preliminary step before introducing Opportunity Income for artists, the province is conducting a pilot project in Seongnam, Uiwang, Yeoju, Dongducheon, and Yeoncheon, providing an annual 1 million KRW local currency 'Creation Support Fund' to artists affected by the prolonged COVID-19 pandemic. In August this year, the first round of support was given to 1,570 people. The second round of support will be provided by the end of the year.