Namhae County Seeks Solutions for Regional Cooperation and Price Stabilization Through Rural Basic Income

Namhae County in South Gyeongsang Province has begun reviewing the economic ripple effects following the implementation of the Rural Basic Income program and is taking steps to develop measures for price stabilization.

According to the county on April 27, a "Rural Basic Income Regional Cooperation and Price Stabilization Meeting" was held at the multipurpose hall of Hwajeon Library. During the event, public-private partnership strategies were discussed to ensure that the increase in local consumption following the distribution of basic income leads to a virtuous economic cycle within the region.

This meeting was organized in response to residents’ concerns about potential price hikes at certain businesses and declining price credibility following increased consumption. It aimed to bring together small business owners and local government officials to jointly devise countermeasures.

[Photo provided by Namhae County] On-site photo of the Rural Basic Income, Regional Mutual Growth, and Price Stabilization Consultation Meeting

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The meeting was attended by officials from relevant departments such as the county’s Youth Policy Division, Economic Affairs Division, and Public Health Center, as well as representatives from the Small Business Association and the local restaurant industry branch. Participants shared their views on the current state of basic income usage, local price trends, and directions for promoting commercial activity.

In particular, concerns were raised regarding price increases at some establishments and the possibility of differential pricing for basic income users. As a result, the need to comply with price labeling regulations and to secure transparency in pricing information emerged as key issues for discussion.

The county plans to strengthen its cooperation system with the private sector to ensure that the Rural Basic Income program goes beyond simple cash support and leads to increased local consumption, higher sales for small businesses, and ultimately, the creation of a virtuous cycle in the local economy.

A county official stated, "We will actively request that businesses comply with price labeling regulations so that residents can use their basic income with peace of mind. We are also considering effective support measures, such as distributing information boards," adding, "Through ongoing communication with small business organizations, we will enhance the effectiveness of our policies."

Yu Gukgun, President of the Small Business Association, and Kim Yunsang, Head of the Restaurant Industry Branch, commented, "The Rural Basic Income policy promotes local consumption and is a practical benefit for small businesses," and added, "We will actively participate in fostering a mutually beneficial environment through price stability and friendly service."

Moving forward, Namhae County plans to maximize the effectiveness of its policies by regularly monitoring price trends and public opinion through ongoing meetings, expanding the number of reasonably priced businesses, promoting price labeling, and identifying best practices in regional cooperation.

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