Geochang County Kicks Off Push for 'Geochang-Style Basic Income'... Funding, Payment Criteria Key

Passed at the 296th Extraordinary Session of the County Council... County to consider its own policy after exclusion from the province's recommendations for the government's rural basic income pilot project
County faces task of setting detailed criteria, including eligibility, payment amounts and methods, and funding plans
County to flesh out a locally tailored basic income plan after gathering residents' opinions and analyzing its fiscal circumstances

Geochang County in South Gyeongsang Province has laid the institutional groundwork for pursuing its own basic income policy after being excluded from the province's recommended candidates for the government's rural basic income pilot project.

Geochang County said on November 7 that, following the passage of the “Geochang County Basic Income Support Ordinance” as originally proposed at the 296th extraordinary session of the Geochang County Council, it plans to consider ways to introduce a “Geochang-style basic income” suited to local conditions.

[Photo courtesy of Geochang County] View of Geochang County Office. Following the county council's approval of the Basic Income Support Ordinance as originally proposed on the 5th, Geochang County plans to develop a concrete proposal for a Geochang-style basic income after gathering residents' opinions and reviewing funding options.

The ordinance's passage is significant because it establishes an institutional basis for Geochang County to pursue its own basic income policy. However, enacting the ordinance does not in itself confirm that basic income payments will be made; follow-up steps are still needed, including setting specific eligibility and payment criteria and securing funding.

After completing related procedures, including promulgating the ordinance, the county plans to develop detailed implementation plans for the basic income policy by gathering residents' opinions and analyzing its fiscal circumstances.

Geochang County had earlier prepared to apply for the government's rural basic income pilot project, but following its own screening, South Gyeongsang Province did not include the county among those recommended to the Ministry of Agriculture, Food and Rural Affairs.

South Gyeongsang Province selected Sancheong County as its recommended candidate from among the nine counties in the province that applied. Geochang County was excluded from the province's recommendations for this additional round of applications.

Geochang County therefore plans to consider a basic income policy suited to local conditions, regardless of whether it is selected for the government's pilot project.

The county is assessing the possibility of launching its own program based on the policy view that basic income could help stabilize residents' livelihoods and promote local spending.

In particular, taking into account the impact of basic income payments on the local economy, the county plans to review eligibility, payment amounts, payment methods and where the funds may be used. Securing funding has also been identified as a key task.

Unlike the government pilot project, an independently run basic income policy would require the county to assess the fiscal burden and the program's long-term viability. It will therefore be necessary to specify the annual budget required at different payment levels and how the funds would be raised.

The budget required and the policy's effects could also vary depending on whether payments go to all county residents or are limited to residents who meet certain criteria, making it necessary to establish relevant standards.

Geochang County plans to gather residents' opinions and discuss the policy's direction through public-private cooperation.

Geochang County Governor Lee Hong-ki said, “It is disappointing that we were not included among the candidates recommended for the government's rural basic income pilot project, but we will prepare a Geochang-style basic income in light of residents' interest and expectations. We will develop a feasible implementation plan that reflects residents' opinions and local conditions.”

After the ordinance is promulgated, Geochang County plans to review eligibility, payment levels and funding options for the basic income.

Whether the program will be implemented, when payments will begin and the specific amount of support are expected to be decided after relevant procedures, including policy design and budget planning, are completed.

The feasibility of a Geochang-style basic income will depend on analyzing the fiscal burden associated with different eligibility criteria and payment amounts, and on whether stable funding can be secured.

This content was produced with the assistance of AI translation services.