In April 2019 Gyeonggi Province in Korea, the area around Seoul, implemented a Youth Basic Income that pays to every 24 year old who is a permanent resident 250,000 won (US $220; £158; €184) every quarter for four quarters. The grants are given in a local currency.
Based on surveys before and after the implementation of the Youth Basic Income, results published at the end of 2019 showed improvements in life satisfaction, in perception of Basic Income, and in work motivation.
Several further reports have been published, the latest of which evaluates the effect of the Youth Basic Income on local businesses. The research discovered that sales by small businesses rose by 45 per cent.
The first report on the Gyeonggi Province Youth Basic Income and a list of other reports can be found here: https://english.gri.re.kr/research/?brno=14459&prno=6533. The report on the effects on local businesses can be found here: https://english.gri.re.kr/research/?sv=&sc=&limit=10&brno=14600&prno=20200498.
