Yeongyang County's Basic Income Revitalizes Local Neighborhood Economy

Joint Inspection by Central and Provincial Governments
On-Site Checks at Traditional Markets and Partner Merchants

On May 20, Yeongyang County in North Gyeongsang Province held a meeting with the Ministry of Economy and Finance, the Ministry of Agriculture, Food and Rural Affairs, and the Gyeongsangbuk-do Provincial Government to review the progress of the rural basic income pilot project and discuss its achievements and future direction.

Yeongyang County Office
Photo by Byunggun Kwon

About 15 participants attended the meeting, including Kim Taegon, Director of Economic Budget Review at the Ministry of Economy and Finance; Kang Dongyun, Director of Rural Income and Energy Policy at the Ministry of Agriculture, Food and Rural Affairs; Chae Hyeonho, policy chief at the Gyeongsangbuk-do Provincial Government; Park Chankook, Director General of the Agricultural and Livestock Distribution Bureau; as well as other key officials from relevant agencies and representatives of Yeongyang County.

The participants received a report on the progress and operational status of the basic income project in the conference room of the Yeongyang-eup Office, then visited basic income partner merchants to assess the effects of the project on site.

The site visits included 'Cafe Sopung,' operated by the Yeongyang County Flower Tea Social Cooperative, and the Yeongyang-eup traditional market. There, the attendees listened to the opinions of merchants and residents, examining changes in consumption and the revitalization of local businesses since the introduction of basic income.

Since this year, Yeongyang County has been providing rural basic income to all residents.

The county has focused its efforts on boosting local consumption, revitalizing neighborhood businesses, and establishing a foundation for a circular local economy.

In particular, the county stated that it is prioritizing not just simple support, but building a virtuous cycle in the regional economy by expanding the range of eligible basic income spending, linking with social solidarity economy organizations, and strengthening the consumption base in rural areas.

Starting in the second half of the year, the county also plans to implement the 'Mobile Food Service Support Project for Rural Areas,' utilizing the Rural Win-Win Cooperation Fund.

This project will use a mobile marketplace model to deliver daily necessities and fresh food to villages, aiming to improve consumption access for rural residents and simultaneously address food deserts and stimulate local consumption.

A county official stated, "This review meeting was organized to share the results of the rural basic income pilot project and to reflect on-site feedback in policy," adding, "We will strengthen cooperation with related agencies so that basic income can contribute to revitalizing the local economy and restoring rural communities."

Meanwhile, as of April this year, Yeongyang County had provided a total of approximately 11.4 billion won in basic income payments to residents, with about 9.3 billion won used as of May 19, resulting in a usage rate of about 82%.

The basic income for May is scheduled to be distributed on May 28.

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