President Lee Visits Basic Income Pilot Area: "Local Currency Will Continue"

"Special Attention and Compensation Support Needed for Border Regions"

President Lee Jaemyung visited Cheongsan-myeon in Yeoncheon-gun, Gyeonggi Province, where a pilot 'basic income' program is being implemented. The basic income system is one of President Lee's key pledges. Gyeonggi Province is running a rural basic income project in Cheongsan-myeon, aiming to attract population inflow into rural areas and revitalize the rural economy. Under this project, rural residents receive 150,000 won per person per month in local currency. The project will continue until December next year.

Yonhap News Agency

At 4 p.m. on the 13th, President Lee visited Gungpyeong-ri in Cheongsan-myeon, Yeoncheon-gun, where he toured local shops and checked how the basic income distributed through local currency is affecting actual sales and what proportion of payments are made using local currency. The owner of a fried chicken shop said, "I was about to close my business, but thanks to the basic income, I have been able to keep it running," adding, "If more local currency is provided, business will be even better." The owner also said, "Although most of my sales are from regular transactions, a significant amount comes from local currency as well."

A resident who has run a mill for 26 years also said, "Since the basic income started, my sales have increased," and added, "I'm paying more taxes because of that, but I still appreciate it." This resident explained that, as of the previous day, about 80% of sales were made using local currency.

Another resident commented, "A lot of my sales are from local currency," and said, "It's unfortunate that the program is ending, but I hope it will be implemented again." To this, President Lee responded, "It won't end," and the resident, smiling, replied, "Please make sure it doesn't end."

Earlier, at 3:10 p.m., before meeting with residents, President Lee held a meeting at Yeoncheon County Office with Yeoncheon County Governor Kim Deokhyeon. President Lee stated, "When inter-Korean relations are tense and confrontational, the economies of border regions become extremely difficult. Not only do economic issues arise, but if military conflict occurs, safety issues also emerge, creating a very challenging situation." He continued, "Building peace is a very important task, and since this region suffers significant damage, it requires special attention and compensation support from the government."

In response, Governor Kim said, "Since the implementation of the basic income program, the number of businesses has increased by 109, mainly restaurants," and added, "I am grateful for a policy whose effects are so visible and tangible." He also noted that, while the overall population of Yeoncheon-gun is declining due to the natural decrease of the elderly population, Cheongsan-myeon, where the basic income project is being carried out, has seen its population increase by about 4.4%. During the meeting, President Lee also asked about the sources of population inflow into Cheongsan-myeon and how newcomers are resolving housing issues.

Meanwhile, Kang Yoojeong, spokesperson for the Presidential Office, stated in a briefing, "This visit was intended to review the basic income program that is already being implemented," and explained, "President Lee said that once basic income payments begin, they should be provided for at least ten years, but he did not mention any specific future plans."