Korea: Gyeonggi’s youth basic income report released
The Gyeonggi Research Institute released “Satisfaction survey report on the youth basic income in Gyeonggi Province” at the start of September.
Gyeonggi Province started the youth basic income, a kind of trial project, last April. The age group of 24 is given 1M Korean Won (about $900) a year in local currency under the project. A satisfaction survey was carried out to find out the recipients’ attitudes toward the youth basic income.
As a result of the survey, the overall level of satisfaction of the youth basic income in Gyeonggi Province was 77.10 points, indicating that 80.6% of the entire respondents were satisfied. The main reason for satisfaction was because ‘It was paid out to all youths aged 24 residing in Gyeonggi Province’ (35.2%), ‘It was paid out in Gyeonggi regional currency which could be used like cash’ (31.6%), ‘There are no conditions for receiving youth basic income such as being employed or carrying out job-seeking activities’ (11.3%).
However, the prime reason for dissatisfaction of dissatisfied respondents was because ‘It was only being paid to youths aged 24 out of the youth group’ (33.3%), ‘Gyeonggi regional currency couldn’t be used in supermarkets, department stores, entertainment stores and others’ (11.7%), ‘It was paid out per quarter over 4 times and applications had to be made each time’ (11.7%), indicating that they were dissatisfied with payment subject and application method, and in case of ‘payment method’.
The Institute is carrying out a few other surveys and researches to find out various effects of the youth basic income and they will come out soon.
You can find the report here.
Written by: Hyosang Ahn
Executive Director of BIKN