[In-Depth Look] An Unstoppable Future

The government distributed emergency disaster relief funds totaling 12.2 trillion won (14.3 trillion won including local government resources) to all citizens. Our family, living in Seongnam City, used this money to buy meals at local restaurants and purchase household goods at neighborhood markets. Most of our neighbors probably did something similar.

This emergency disaster relief fund can be called a "Korean-style" basic income. This is due to its unique characteristics, such as restrictions on usage through local currency and set usage periods, which are not part of the basic income concept. It is precisely because of these unique features that the nationwide emergency disaster relief fund could be distributed without concerns about conflicts or misuse among various conceptual elements.

There is much debate about whether to introduce so-called basic income. The Basic Income Earth Network, a global organization, defines basic income as "a regular cash payment unconditionally paid to all individuals without asset tests or work requirements." According to this, basic income has characteristics such as regularity, cash payment, individuality, universality, and unconditionality. Basic income can be further divided into full basic income, partial basic income, and transitional basic income depending on the level of income provided or the phased implementation situation. Among these, the emergency disaster relief fund can be seen as transitional basic income under the assumption that it will be paid regularly in the future, and if it is paid at a level insufficient to fully meet basic needs, it would be considered partial basic income.

There are various views on the nature of basic income. Some argue that since our welfare level is low, welfare systems should be developed and that basic income is premature. From this perspective, there is also the argument that support should be concentrated on vulnerable groups such as self-employed individuals, platform workers, and special employment workers through a certain selection process rather than basic income. Park Won-soon, the mayor of Seoul, also argued that under the assumption of choosing one with the same resources, a nationwide employment insurance system should be implemented rather than universal basic income.

There is also a view that sees basic income as an economic policy. Since demand is absolutely insufficient in economic elements such as supply and demand, basic income aims to increase disposable income for people to strengthen overall demand. The economic utility of basic income can be considered when deciding whether to implement it. Ultimately, this means starting basic income within the possible scope and gradually expanding it, a position held by Gyeonggi Province Governor Lee Jae-myung.

I believe that the argument to start basic income within the current feasible scope does not conflict with the argument to implement nationwide employment insurance. There is no inevitability to choose between basic income or nationwide employment insurance with the same resources. Also, the existing social security system based on wage labor has limitations in the face of the ongoing trend of decreasing jobs and shortened working hours, indicating the need for extraordinary income compensation policies. Nevertheless, if the government proposes to postpone universal basic income payments due to resource limitations to immediately create a concrete roadmap to implement nationwide employment insurance or strengthen existing social security systems, I can agree. In fact, the worst scenario would be the government only talking about nationwide employment insurance without any sign of implementation and not introducing basic income under the pretext of fiscal soundness deterioration.

Ultimately, I believe a time will soon come when basic income payments are taken for granted. Citizens have already experienced the germ of basic income through the emergency disaster relief fund, and its economic utility has been confirmed. The train of basic income is rapidly running through Korean society. Basic income has already started under names such as the basic old-age pension, child allowance, youth dividend (youth basic income) in Seongnam City and Gyeonggi Province, and youth allowance in Seoul City, and with the acceleration given by the emergency disaster relief fund, it will no longer be reversible.

Baek Ju-seon, Lawyer at Law Firm Yungpyeong

This content was produced with the assistance of AI translation services.