Brief Summary
In April, The Governor of Gyeonggi, Lee Jae Myung announced that all residents of Gyeonggi would receive 100,000 Korean Won equivalent to $79.85 US Dollars using Gyeonggi Pay which functions as an ‘alternative currency’ for the province which should be spent every three months. Gyeonggi is the first province in South Korea to implement an Anti – Disaster Basic Income in order to combat the harsh effects of the pandemic by increasing the economic circulation that would benefit the small, traditional and local businesses. Lee Jae Myung’s move to implement a Universal Basic Income (UBI) was […]
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