80.8% of Citizens Support Basic Income Introduction... Gyeonggi Research Institute Survey Results Announced

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Eight out of ten South Korean citizens support the introduction of a 'basic income' of either 200,000 KRW or 500,000 KRW per month. In particular, the most common preferred realization period for the basic income was within three years based on the 200,000 KRW per month standard.

The Gyeonggi Research Institute announced on the 6th that it conducted a public opinion survey related to basic income targeting 10,000 adults nationwide, including 5,000 Gyeonggi residents, through R&AL Consulting Co., Ltd., a polling agency, from March 26 to April 19, and derived these results.

The survey results showed that when assuming the basic income amount as either 200,000 KRW or 500,000 KRW per month, 80.8% of respondents supported either one or both amounts.

Overall, 50.3% answered that they support the introduction regardless of the payment amount. By amount, 200,000 KRW per month (71.7%) showed higher support than 500,000 KRW per month (59.4%).

Among the 8,079 respondents who supported the introduction of basic income, the main reason cited was "improvement in overall quality of life" (27.9%). This was followed by ▲restoration of basic human rights (24.2%) ▲activation of the domestic economy through increased consumption (13.8%), among others.

This highlights that the public perceives basic income as both a welfare-oriented economic policy and a policy to realize economic basic rights.

Overall, 57.4% expressed willingness to pay additional taxes to fund the basic income payments.

Among the 5,738 respondents who answered positively about paying additional taxes, the largest group (32.3%) chose to pay between 1% and less than 2% of their annual personal income. On average, respondents were willing to pay up to 3.47% of their annual income.

Regarding methods to secure funding for basic income, the responses were ▲commercialization of public platform revenue (public big data, publicly operated delivery apps) 55.8% ▲imposition of carbon tax or environmental tax 55.5% ▲adjustment of current expenditure budgets 54.3% ▲strengthening inheritance and gift tax rates 47.7%, among others.

When asked about feasibility and timing, 54.6% of all respondents said that the basic income system is feasible based on the 200,000 KRW per month standard. Among the 5,457 respondents who mentioned feasibility, 57.1% answered that the most appropriate realization period is within three years.

Yu Young-seong, head of the Basic Income Research Team at the Gyeonggi Research Institute, explained, "The survey on public awareness of basic income shows that the payment of 200,000 KRW per month and prompt introduction within three years currently have the highest public acceptance. If the basic income policy is properly implemented, it can gain the contribution and support of the majority of the public, and the previously contentious issue of funding burden will no longer be a problem."

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