Universal Basic Income in the Republic of Korea: Development of Social Security or Populism?

Since the 2010s the Republic of Korea is experiencing a wide range of socio-demographic problems — the aging of the population, low birth rate, the destruction of the traditional family structure, inequality, poverty of the elderly, youth unemployment. Every year these problems exacerbate each other, inflaming the discussion in politics and society about the need to develop the social security system. According to OECD standards, social welfare spending in the Republic of Korea remains low, and social policy itself is recognized as ineffective, examples of which are increasing income polarization, poverty and extreme poverty that drives many people to suicide. Social policy cannot solve the primary problem of Korean society — the declining birth rate. The discussion about the development of the social state in ROK, among other things, focuses on the possibilities of the universal basic income — a system that involves unconditional unified payments to every resident of the country. Left-wing parties are increasingly resorting to the topic of the universal basic income in their election programs. The article talks about experiments on the implementation of the universal basic income in the Republic of Korea, analyzes the programs of presidential candidates in 2022. The experiments and election slogans of left-wing politicians are designed primarily to support young people and increase their electoral activity. In addition to the usual conclusion about the immaturity of the social system of ROK by European standards, it is important to understand that awareness of the possibilities of the UBI among the population is also insufficient to play a significant role in the outcome of the elections.

Republic of Korea, social policy, social security, unconditional basic income, presidential elections, leftist populism