86.3% of the Entire Population Say "They Would Continue Working Even If Given a Large Basic Income"

[Asia Economy (Suwon) = Reporter Lee Young-gyu] A survey result has emerged that directly refutes the claim that basic income reduces labor incentives and negatively impacts the economy.

Basic income is an economic welfare policy that provides a certain income unconditionally to all members of society. Recently, it has been gaining attention as an alternative to resolve large-scale long-term unemployment and excessive concentration of wealth brought about by the advent of the 4th Industrial Revolution era.

Lee Jae-myung, Governor of Gyeonggi Province, is credited with spreading the concept of basic income nationwide by introducing and implementing the youth dividend policy, which applied the concept of basic income for the first time in the country during his tenure as mayor of Seongnam.

However, some oppose the introduction of basic income, arguing that it is a populist handout and that excessive basic income payments lead to loss of labor motivation and other economic adverse effects.

The Gyeonggi Research Institute released survey results on the 27th that overturn such claims.

The Gyeonggi Research Institute commissioned R&R Consulting Co., Ltd. to conduct a survey from March 26 to April 19 targeting 10,000 adults nationwide, including 5,000 residents of Gyeonggi Province. The results showed that when basic income of 500,000 won or less was provided, over 80% on average responded that they would continue working, while those who said they would reduce working hours were below 10% on average.

In detailed survey results, among all respondents, 86.3% said they would 'continue working' regardless of the amount of basic income provided. In contrast, only 9.6% responded that they would 'reduce work' (8.1%) or 'quit work' (1.5%).

Respondents also expected various social effects from the provision of basic income.

They anticipated that basic income would help ▲revitalize the domestic economy (61.2%) ▲resolve livelihood instability (60.8%) ▲alleviate elderly poverty and solitary death issues (59.3%), among others.

The Gyeonggi Research Institute explained that this is meaningful as it shows that a significant portion of the public understands basic income not simply as a welfare policy but as a welfare-oriented economic policy.

Earlier, on the 6th, the Gyeonggi Research Institute disclosed the first part of the '2021 Basic Income General Awareness Survey Results,' revealing that 80.8% of respondents supported the introduction of basic income of 200,000 won or 500,000 won per month.

The welfare system satisfaction of these basic income supporter groups was higher in all areas compared to the basic income opposition groups.

By sector, satisfaction was highest in health (61.4%), education (49.6%), and childcare (49.1%). Satisfaction was relatively lower in housing (29.1%) and employment (31.6%).

The province analyzed that the more people experienced the utility of welfare systems, the higher their support for basic income.

A Gyeonggi Research Institute official emphasized, "In this survey, an overwhelming majority responded that even if they received a large basic income, they would not reduce their work, and even if they reduced work, they would enjoy leisure time. Therefore, concerns that economic activity would decrease due to basic income payments need to be corrected."

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