Debate on basic income rekindled for post-pandemic era

Kim Chong-in, head of the main opposition United Future Party's emergency committee, talks during a press conference to address his ideas of a basic income paid to all citizens and the economic freedom it provides, Thursday, at the National Assembly in Seoul. Yonhap

By Jung Da-min

After the 21st National Assembly commenced last Saturday, political parties have raised the idea of introducing a basic income system in an attempt to win the support of the people while the country is facing an economic crisis due to the COVID-19 situation.

The country's two major parties, the ruling Democratic Party of Korea (DPK) and the main opposition United Future Party (UFP), agreed despite differing political views that the issue needs to be explored, although some of their members expressed concerns over how the government could prepare the resources for a basic income to be paid to all citizens.

Such a move by Kim Chong-in, head of the conservative UFP's emergency committee for reform, in particular, is drawing attention as the idea of a basic income has been considered “radical,” or of the progressive bloc.

In fact, Kim, a veteran economist and politician who has helped both the progressive and conservative blocs during his political career, had already raised the issue in the beginning of the previous 20th National Assembly four years ago, when he was heading the then-main opposition DPK's emergency committee.

On Thursday, Kim said the time has come for the politicians take a fundamental review of a basic income system as the pandemic has caused a global recession.

“This unprecedented crisis of the COVID-19 should be handled with an unprecedented determination by the party to establish an emergency policy,” Kim said during a meeting of the UFP's emergency committee at the National Assembly.

“Politicians need to establish relevant policies for sustainable and inclusive economic growth, rebuild the health and welfare system, develop the environment for the Fourth Industrial Revolution and take a fundamental review of the issue of basic income stemming from such new moves.”

Kim earlier on Wednesday brought up the issue saying that the people should be given economic freedom in which “those who feel hungry could buy bread,” while the government protect the weak amid growing economic inequality.

While other UFP members including Rep. Cho Hae-jin and Rep. Sung Il-jong addressing the need to introduce the idea of basic income, political watchers said the UFP is likely to push ahead with the idea of basic income for “young” citizens as the costs of providing it for all citizens exceeds the government's national tax revenue.

They said it would be important for the main opposition party to appeal to young voters when the party needs a new support base other than existing supporters in their 50s or older.

From the progressive bloc's side, Gyeonggi Province Governor Lee Jae-myung has already introduced a basic income system for young citizens in the region, providing 1 million won ($822) for a period of a year to those who are at the age of 24, since 2019. The local government's basic income system for its young citizens will continue until 2022.

Lee's popularity has increased with such “radical” policy efforts by him, while Lee taking second place on surveys of prospective presidential candidates after former Prime Minister Lee Nak-yon.

But the DPK leadership and Cheong Wa Dae still remain discreet over the idea of introducing basic income due to the matter of financial integrity of the national treasury.

A Cheong Wa Dae official said on the matter that there should come many rounds of discussions on the issue, especially over an enormous amount of resources expected to be put on a basic income system.

“It is too early to have a detailed discussion over the issue of basic income,” the officer told reporters. “We would need to check how we could secure enormous resources for a basic income system, if we were to introduce one, and also study cases of other countries which have introduced such a system.”

Meanwhile, DPK Rep. Lee Won-wook said he welcomes the UFP emergency committee chairman's stance that a system for basic income needs to be reviewed and said the ruling and opposition bloc should together launch a committee to discuss and push the idea forward.