Basic Income Policy of Korea

Basic income, defined as a periodic cash payment delivered unconditionally to all citizens, has become a controversial issue in some countries. It aims to alleviate poverty. This paper describes the experiments of the basic income policy conducted in Finland and Canada. Then it describes the Young Adults Dividends program in Seongnam City in South Korea. Although the program in Seongnam City does not show apparent evidence of having a positive impact on employment, it has been successful in relieving the burden of high living expenses for young citizens. This paper derives policy implications from the experience of South Korea.