New Startups Increase in Basic Income Pilot Regions for Farming and Fishing Villages... Number of Affiliated Stores Up 13.1%

Increase in Youth Startups and Emergence of Community-Based Businesses such as Food Courts
Ministry of Agriculture, Food and Rural Affairs Launches 'Rural Social Startup Project' to Discover New Business Ideas

It has been found that new business startups have increased in areas participating in the 'Basic Income for Farming and Fishing Villages Pilot Project,' which is being promoted to overcome the crisis of regional extinction.

The Ministry of Agriculture, Food and Rural Affairs announced on May 12 that the number of affiliated stores in the regions selected for the basic income pilot program had increased by 13.1% as of the end of January this year.

An official from the Ministry of Agriculture, Food and Rural Affairs explained, "About 85% of the basic income distributed since February this year has been used within just two months, facilitating the circulation of spending within the local economy. In township-level areas that had previously experienced inconvenience due to a lack of places to spend, new types of businesses such as hair salons and fitness centers have opened. In addition, community projects led by residents and win-win models for small businesses mediated by basic income have been established, and positive examples of virtuous economic cycles are being observed throughout the region."

First, there has been an increase in youth entrepreneurship since the introduction of basic income. In Okcheon County, a young person who previously worked in the beauty industry in Mokpo returned to their parents' hometown of Cheongsan-myeon to open a hair salon. In Cheongyang County, a young entrepreneur with an award from a social solidarity economy competition recently opened a pet supplies store in response to the increasing number of households raising companion animals. In Cheongsan-myeon, Yeoncheon County, a fitness center has opened for the first time, allowing rural residents to manage their health using their basic income.

Businesses closely related to daily life have also been established. In Jangsu County, a food court was opened for the first time in the region, and in Yeongyang County, a café has launched a barista training program that can be paid for using basic income. These community-focused businesses are taking root and revitalizing the local economy.

The Ministry of Agriculture, Food and Rural Affairs is stepping up support to sustain these achievements. Throughout May, it will dispatch about 70 young supporters to pilot project areas to discover creative business ideas and support their commercialization through the 'Rural Social Startup Project.' This is intended to help increased purchasing power from rural basic income translate into demand for new services needed in each region. Additionally, within the first half of the year, the ministry plans to provide financial support for mobile market vehicles needed for the delivery of groceries and other goods in seven counties, including Jeongseon, Sunchang, and Namhae.

Kim Jungwook, Policy Chief for Agro-Industry Innovation at the Ministry of Agriculture, Food and Rural Affairs, stated, "The virtuous cycle created within the local economy by basic income will become a valuable asset that helps regions regain vitality and achieve self-reliance. We will continue to provide full support so that resident communities and social solidarity economy organizations can become the main agents in shaping the future of rural areas."