Two main sections—the International Conference on Basic Income and the Basic Income & Regional Currency Exhibition—as well as other various events

A place of communication and exchange for all people with approximately 20,000 domestic/international scholars, experts and others participating

Spokesperson Kim Yong: “Basic income is a social safety net and a mission for this generation to guarantee a basic standard of life.”

The 7th popularly elected Gyeonggi provincial administration is hosting the 2019 Korea Basic Income Expo from April 29 to April 30 at the Suwon Convention Center. The event will serve as a venue for communication and exchange in the establishment of common ground among all people for basic income and regional currency policies, a means by which to realize a province of equality.

At a briefing session held on March 25 at the Gyeonggi Provincial Government Complex, Spokesperson Kim Yong explained: “The 2019 Korea Basic Income Expo will promote a nation-wide basic income policy as well as a regional currency that is being implemented from this year.” He added, “Not only will this expo advocate a nation-wide basic income policy, it will also be a venue for assessing the present and future of basic income policies in Korea and overseas, as well as a place to discuss international issues and new policies.”

Kim continued, “Basic income is no longer a policy criticized as populism.” He then emphasized: “It is a social safety net to prevent the rapid growth of the poor and unemployed following the fourth industrial revolution and to guarantee a basic standard of living for all citizens. It is a mission for this generation of increasing labor incentives, income redistribution and economic stimulation.”

The 2019 Korea Basic Income Expo, hosted by Gyeonggi Province, is co-hosted by the Gyeonggi Research Institute, the Gyeonggido Business & Science Accelerator, and the Basic Income Korean Network. A total of 20,000 people including domestic and international scholars/experts, regional officials from all of Korea, and Gyeonggi residents are expected to participate. It is a national event to celebrate and establish a common understanding of the importance of basic income and regional currency policies.

Under the theme of “Opening the Doors to Basic Income and Great Achievements,” the expo is divided into two main sections: the International Conference on Basic Income, and the Basic Income and Regional Currency Exhibition. There will also be a wide variety of events taking place at the expo.

The International Conference on Basic Income will serve as a venue of conversation and exchange through which Korea’s regional officials, who have previously pursued or are currently pursuing basic income-related policies, and senior executives can gather for discussions under the theme of “The New Paradigm of the Generation of Collaboration, Basic Income.”

During the international conference, participants will discuss diverse aspects of basic income policy, including: the present and the future of the Gyeonggi Province basic income model; basic income as defined by international scholars; and examples of basic income policies abroad.

The Basic Income & Regional Currency Exhibition is open to young adults, agriculturalists, and artists from all over Korea. Through this event, they can gain a better understanding of basic income policies and regional currency; it is a place for them to see the exhibition as well as to experience the policies themselves.

Gyeonggi Province is planning to operate approximately 100 promotional booths to introduce basic income policies abroad and to allow people to experience the regional currency themselves so as to increase their understanding.

Last December, Gyeonggi Province established Korea’s first Basic Income Committee, an advisory board for basic income policies. This year, the committee is pursuing key policies of the 7th popularly elected provincial administration that are geared to expand young adult basic income to the 31 municipalities of the province, and will actively review the introduction of basic income for agriculturalists while also pursuing different policies to expand basic income.

From this April, the province plans to promote the Gyeonggi regional currency with the aim of having it in circulation in all municipalities of Gyeonggi Province.

Gyeonggi Province expects that, by making welfare payments with the Gyeonggi regional currency, it will enhance the welfare effect and prevent misuse, eventually leading to the positive circulation of the regional economy.

For reference, the main tenet of basic income policy is to ensure every person in society receives a certain amount of income unconditionally. Addressing large-scale, long-term unemployment and the concentration of wealth engendered by the fourth industrial revolution, such policies are receiving attention around the world.

Gyeonggi Province Governor Lee Jae-myung introduced and enacted basic income policy for young adults for the first time in Korea while serving as Mayor of Seongnam City, raising the initiative as a national issue.