South Korea’s Local Basic Income Experiment Demonstrates Success

Due to the economic fallout of COVID-19 a city in South Korea decided to create its own kind of universal basic income. Instead of just getting cash, the payouts are done on a special credit card that only works with local owned businesses, meaning you have to spend locally and help your local businesses survive the economic downturn. In the video above you can see how successful this program has been and that one federal politician is hoping to make the program national.

To stimulate its pandemic-hit economy, a province in South Korea has been experimenting with universal basic income programs by regularly giving out cash, no questions asked. Now, some politicians want to go national with the concept.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Scroll To Top
%d bloggers like this: