Lee Jae-myung: "Pay 1 Million Won as 'Youth Basic Income', Promote Tuition Fees Based on GPA"

[Image source=Yonhap News]

[Asia Economy Reporter Koo Chae-eun] Lee Jae-myung, the Democratic Party presidential candidate and Governor of Gyeonggi Province, announced youth pledges on the 5th, promising 'annual youth basic income of 1 million won,' 'tuition fees proportional to credits,' and 'unemployment benefits for voluntary job changes.'

On the day marking the first anniversary of the enforcement of the `Youth Basic Act`, Lee stated in the `First Youth Policy Pledge Announcement` that starting in 2023, youth aged 19 to 29 will receive an 'annual youth basic income of 1 million won.' Lee said, "When combined with universal basic income, by the end of my term, each person will receive 2 million won," adding, "The youth basic income will serve as a small but reliable safety net for young people who inevitably fall into welfare blind spots."

He also pledged that young people will be able to receive unemployment benefits once in their lifetime for voluntary job changes. Additionally, to reduce the burden of college tuition for youth, he mentioned supporting interest on student loans and promoting a 'tuition fee system proportional to credits.'

Some of the plan to supply more than 2.5 million basic housing units will be prioritized for youth. He stated, "We will also review improvement measures for the subscription system, which is structurally disadvantageous to youth," and added, "We will strengthen management in cooperation with local governments to eradicate unfair practices frequently occurring in the rental market, such as illegal buildings, opaque maintenance fees, and unfair lease contracts."

Furthermore, he promised to expand the Gyeonggi Province military service youth accident insurance support system nationwide. Lee said, "We will secure a social safety net for our youth by expanding the Gyeonggi Province military service youth accident insurance support system, which provides coverage through accident insurance in case of death or injury during military service, to the entire country."

Finally, he pledged to expand mental health support projects for youth in crisis. Lee stated, "The state must actively protect the mental health of youth to prevent them from becoming isolated or falling into extreme situations," promising, "Starting in 2023, the 'Youth Mental Health Promotion Project' will be expanded nationwide, and dedicated personnel related to mental health will be increased to strengthen support systems that can detect early signs of depression, suicidal impulses, and feelings of isolation."

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