Gyeonggi-do to Hold 'Policy Debate' Exploring Development Plans for Youth Basic Income

Gyeonggi Provincial Government

On the 23rd, Gyeonggi Province will hold a policy discussion on improving the 'Youth Basic Income' at the Bio Conference Room of the Gyeonggi Economic Science Promotion Agency in Gwanggyo, Suwon.

The discussion will be chaired by Kim Moon-gil, head of the Youth Policy Research Center at the Korea Institute for Health and Social Affairs. Presenters include Shin Cheol-hee, senior researcher at the Gyeonggi Research Institute, and speakers such as Jang Min-su, member of the Gyeonggi Provincial Council, Choi Tae-seok, chairman of the Gyeonggi Youth Policy Coordination Committee, and Lee In-yong, head of the Gyeonggi Youth Opportunity Division.

Youth Basic Income is a policy that provides 1 million won in local currency to 24-year-old youth in the province regardless of their income.

The Youth Basic Income has received positive evaluations for serving as a catalyst that helps 24-year-olds, identified as the age group most in need of life support during social entry, prepare for their future.

On the other hand, there are critical views that excessive budgets are being allocated to support a specific age group, that unconditional payments are made regardless of income, and that the usage is mainly concentrated on consumption activities.

Through this public discussion, Gyeonggi Province plans to gather diverse opinions on the Youth Basic Income and prepare improvement measures based on the suggestions received.