Ruling Party and Government Strengthen Basic Livelihood Security... "Gradual Expansion of Eligibility Criteria for Livelihood and Housing Benefits"

Reducing the Asset Recognition Conversion Rate for Vehicles to 35% of Median Income for Livelihood Benefits and 50% for Housing Benefits

The People Power Party and the government have decided to expand the eligibility criteria to strengthen the coverage of the Basic Livelihood Security System and reduce the blind spots in benefit recipients by lowering the proportion of automobiles counted as assets. They also agreed to ease the medical benefit support criteria for people with severe disabilities.

On the 12th, the party and government held a working-level consultation at the National Assembly regarding the 3rd Basic Livelihood Security Comprehensive Plan (2024?26) to discuss directions for improving the Basic Livelihood Security System. Kang Ki-yoon, the 5th Policy Coordination Chairman of the People Power Party, said after the consultation, "The party and government agreed to actively promote a plan to gradually raise the eligibility criteria for livelihood benefits and housing benefits to 35% and 50% of the median income, respectively." He added, "To prevent cases where recipients are excluded due to excessive asset criteria, we will significantly relax the asset standards and gradually ease the medical benefit support obligation criteria."

[Image source=Yonhap News]

Regarding this, Cho Kyu-hong, Minister of Health and Welfare, stated, "According to a field survey, among those eligible for livelihood medical benefits with a median income of 40% or less, there are about 650,000 people who have not received benefits. To reduce this number, we will lower the conversion rate of assets to income, with the highest conversion rate currently applied to automobiles." He continued, "For medical benefit supporters, we will also gradually ease the support obligation criteria, especially focusing on medical needs for people with severe disabilities and those with severe rare incurable diseases."

Additionally, the party and government agreed to strengthen support for youth poverty alleviation by expanding deductions for earned and business income and supporting asset formation for impoverished youth. Representative Kang said, "The party and government agreed on the need to further strengthen support for vulnerable groups to realize welfare for the disadvantaged over the next three years. The party will also make every effort together with the government, including actively reflecting related budgets to ensure the smooth implementation of the 3rd Comprehensive Plan."

The 3rd Basic Livelihood Security Comprehensive Plan is expected to be finalized after deliberation and resolution by the Central Livelihood Security Committee.