Gyeonggi Youth Basic Income has improved quality of life for youths: Gyeonggi Research Institute

• The Gyeonggi Provincial Government recently released an English research report, published by the Gyeonggi Research Institute in December 2020, that analyzes the effects of its youth basic income policy.
• This was published in follow up to the 2019 study “Analysis of the Policy Effects of Youth Basic Income in Gyeonggi Province.”
• Based on a comparison of young people residing in Gyeonggi Province with those in other regions, the results indicate that the policy has positively impacted beneficiaries in various sectors.
• Based on the positive empirical evidence, strategies to continue Gyeonggi Youth Basic Income and realize the full-fledged implementation of universal basic income are deemed necessary.

Gyeonggi Province, the most populous local autonomy in the Republic of Korea, has implemented a basic income scheme for
its residents. Since April 2019, the provincial government has also been making Gyeonggi Youth Basic Income payments to its 24-year-old residents.

The Gyeonggi Provincial Government recently released an English research report, published by the Gyeonggi Research Institute (GRI) in December 2020, that analyzes the effects of its youth basic income policy. This was published in follow up to the 2019 report “Analysis of the Policy Effects of Youth Basic Income in Gyeonggi Province.”

For the more recently published study, the GRI surveyed a total of 11,335 policy beneficiaries both before and after they received Gyeonggi Youth Basic Income payments for one year (from April 2019 to March 2020) and compared their responses with those of 800 young adults residing outside of Gyeonggi Province. Both groups were surveyed before and after the implementation of Gyeonggi Youth Basic Income to enable the comparison of the ex-ante and ex-post survey results. The categories for analysis were happiness, health and diet, perceptions and attitudes, economic activity, and “dream-capital.”

The results clearly show that the Gyeonggi Youth Basic Income policy positively correlates with improved mental health, exercise frequency, and nutrition among respondents, thus imparting a sense of happiness. In the “perceptions and attitudes” category, Gyeonggi Youth Basic Income appeared to enhance perceptions and awareness in terms of gender, social equality and trust, while all items in the “dream-capital” category—including imagination, hope, optimism, and resilience—also showed significant results.

Concurrently, with the receipt of Gyeonggi Youth Basic Income payments, weekly working hours increased by 1.3 hours, dispelling concerns that such payments would be a labor disincentive.

Gyeonggi Youth Basic Income significantly impacted various self-improvement and social activity areas, including eating, housework, time spent with family, personal development/study/exercise, social activities, and leisure. Regarding expenses, respondents indicated that they spent more on self-development and education.

The study also includes the results of a qualitative survey—individual interviews and focus group interviews—of 42 respondents aged 24 living in the province who received four Gyeonggi Youth Basic Income payments (KRW 1 million in total).

According to the survey, young people in Gyeonggi Province are fully aware of the “unconditionality, universality, and sufficiency of basic income” and expect it to create “a society in which they have opportunities to start again and try new things.” Furthermore, they believe that “the prospect of a sufficient level of basic income can foster positive changes in their lives.”

Young Seong Yoo, head of the Basic Income Research Group at the GRI, said, “Based on the results of both the quantitative and qualitative studies, Gyeonggi Youth Basic Income can be deemed a successful policy given its positive influences on quality of life.” He added, “It is necessary to pursue the current policy on the basis of confidence and devise strategies to utilize it as a stepping stone in the implementation of a full-fledged basic income policy.”