Gokseong's Rural Basic Income Acts as a Catalyst for Local Economy, Injecting 2.5 Billion Won in Just 7 Days

36% of Payments Spent Early from 7.17 Billion Won Distributed
Local Businesses See Increased Activity During Family Month Holiday

The rural basic income program, which Gokseong County in Jeonnam is implementing for the first time in the country, has injected over 2.5 billion won into the local market within just one week of distribution, serving as a strong catalyst for the regional economy.

According to Gokseong County on May 8, out of the total 7.17 billion won in rural basic income distributed on April 29, approximately 2.57 billion won—representing about 36%—has already been spent in local businesses.

This round of payments consisted of the regular installments for both January and April, with each recipient receiving 300,000 won. Notably, new residents who verified their residency for over 90 days and those who applied after March received retroactive payments for up to three months.

Aerial view of Gokseong-gun Office, Jeollanam-do. Provided by Gokseong-gun, Jeollanam-do

An analysis of how the payments were used shows that, because the funds are exclusively spent at affiliated merchants that accept the “Simcheong Gift Certificate” (the local love gift certificate of Gokseong County), a clear virtuous cycle of local consumption has formed. County officials explained that with Family Month and the holiday period coinciding, there was particularly active spending at restaurants, marts, and daily service businesses.

The county expects that this consumer trend will revitalize the stagnant local commercial sector and lead to tangible increases in sales for small business owners.

A Gokseong County official stated, “The rural basic income program not only stabilizes residents’ livelihoods but also provides real help to small business owners. We will ensure that the basic income of 150,000 won per person is distributed smoothly on the upcoming 28th as well.”

Local merchants report a significant rise in both visitors and sales since the payments, expressing strong support for the program. One restaurant owner in Gokseong-eup commented, “With the holiday overlapping with basic income payments, groups of customers lined up. It was the busiest season we’ve had in years.”

Meanwhile, in the upcoming payment scheduled for May 28, new residents who applied in February will also be included and eligible for the benefits.

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