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Seoul National University Economy professor Lee Keun says South Korea needs BI

(Image Credit: The Hankyoreh Media Company)

According to business writer Kwack Jung-soo, South Korea will need to make fundamental changes to its operations due to the nation’s prolonged low growth and lack of new growth engines.

In a new book entitled 2017 Grand Forecast for the South Korean Economy, 43 economics experts provide analyses and possible solutions to the economic crisis in South Korea. 

One contributor, Professor Lee Keun of Seoul National University, believes that the present situation is a “crisis of South Korean capitalism” rooted in income inequality. He maintains that part of the solution is a “basic income system” in which “sufficient livelihood benefits would be paid to all citizens to keep them out of poverty, regardless of assets, income, or working status” (in the words of reporter Jung-soo).

Read the full article here:

Kwack Jung-soo, “Economists saynin 2017 will enter “long-term low growth conditions“, The Hankyoreh, November 23, 2016.

Reviewed by Kate McFarland

About Scott Douglas Jacobsen

Scott Jacobsen has written 37 articles.

Scott Douglas Jacobsen researches with varied research labs and groups, and works part-time in landscaping. He founded In-Sight: Independent Interview-Based Journal and In-Sight Publishing. He authored/co-authored some e-books, free or low-cost. If you want to contact Scott, you may inquire or comment through e-mail: He is a Tobis Fellow (Fall, 2016) at the UCI Interdisciplinary Center for the Scientific Study of Ethics and Morality (Ethics Center), weekly interview columnist for Conatus News, writer and Executive Administrator for Trusted Clothes, Councilor for the Athabasca University Student Union, member of the Learning Analytics Research Group, writer for The Voice Magazine, Your Political Party of BC, Progressive Party of BC, Marijuana Party of Canada, BC Refederation Party, and Little Footprints Big Steps International Development Organization, Community Journalist/Blogger for Gordon Neighbourhood House, member-at-large and writer for Canadian Students for Sensible Drug Policy, and member of the Lifespan Cognition Psychology Lab and IMAGe Psychology Lab.

The views expressed in this Op-Ed piece are solely those of the author and do not necessarily represent the view of Basic Income News or BIEN. BIEN and Basic Income News do not endorse any particular policy, but Basic Income News welcomes discussion from all points of view in its Op-Ed section.

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