Home / Sports / South Korea’s Universal Basic Income Experiment to Boost the Economy | WSJ

South Korea’s Universal Basic Income Experiment to Boost the Economy | WSJ

To stimulate its pandemic-hit economy, a province in South Korea has been experimenting with universal basic income programs by regularly giving out cash, no questions asked. Now, some politicians want to go national with the concept. Illustration: Crystal Tai/WSJ

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36 comments

  1. Avatar

    this girl with so many part time jobs… what are you doing?! Must be spending only a couple hours a week at each if she is also a student. i doubt she's spending any substantial time working any of them to gain much money. sounds off.

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    Why not just decrease the taxes. This is stupid

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    Why only 420 dollars a month, why don't we give everyone a million dollars a month, UBI would create inflation and a fiscal mess for the government, look at how the dollar is behaving against other currencies when you just mindlessly print money and give it to everyone. Its a life saver for some people, but its just free money to the rest, that's why money should only be given to those who need it, that's when it works best, like in the case with the woman shown in the video. Mexico is running its own UBI scheme, its giving every high school student and every elderly person $50 a month, I'm sure its great for the people that don't have those $50 but the people that don't need them don't care about it, and meanwhile the government finances are a mess, its already running out of money and its only the 2nd year, they already spent emergency funds before covid so there was nothing left when it hit, and just this week trusts that were meant for natural disaster relief, science and education were wiped out, large businesses are being extorted with paying taxes that were disputed in federal courts or their CEOs being sent to jail.

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    A very crucial step, during such difficult times

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    Woow at least the government is giving something, cuz I heard south korea only wanted to help rich ppl.

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    Remember to keep an open mind for all Westerners; democratic government in Asia, especially North Asians, are supreme and supposed to give their lives to serve the people, those who fail will be remembered as national shame, South Korea and Japan are a prime example of it. In their society Job is life and a very personal pride.

    Edit: many fell into depression and suicide just trying to keep up with demands of their work, being in Govt' official doesn't mean you are free from resentment and public shame after you retire or step down from the position, thats why they come to death for answer,

    For gov't: every step they take is like a landmine of another landmine, social experiment are 50-50 chance shame/support for them

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    Typical Americans complaining about privacy while using Instagram,Facebook,Snapchat at the same time.

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    What if the person dosent want to spend it and save it? Is that possible?

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    This is more physiological than you thing. I think it’s “making” people spend money, because a lot of people are scared of spending because of COVID. In the future they might stop this concept.

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    Im waiting on how much impact this has on cost of living expenses and inflation. I'd also like to know the drawback….such as is this essentially funded by taxing corporations, affluent, middle class, etc?

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    Instead of Yang, we have two senile old men arguing who is the lesser worse at leading the nation.

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    Commercial Art Services Art Work

    Why keep doing experiments on something that has proven to work? Get going and get it done. No more meetings, no more "conversations".

  13. Avatar

    Hope it works out for them. Let's stop giving so much US taxpayer dollars to SK

  14. Avatar

    So you're telling me that giving people an extra source of income increases their quality of life and SK has one of the highest QOL index's in the world consistently?

    'Merica: Sounds like some socialism or communism thing and takes away my freedom! All while the country slowly degrades and loses its standards every year.

  15. Avatar

    Americans would have this too if they didn't spend every single dollar on their defence industry

  16. Avatar

    Goodbye America 👋

  17. Avatar

    1:50 She got the money and IMMEDIATELY spent it on strawberry moca Frappuccinos as can be seen in the video 🤣
    Great success!

    Edit:
    4:20 Holy smokes, she also has an expensive galaxy note phone? 🤣

  18. Avatar

    Can we at least reserve judgment til we've seen the fking thing in order? Like holy shxt, at least they're trying something different. I doubt the human race will be running on this system forever.

  19. Avatar

    And the professor comes over and says that there are privacy issues. If you don’t like not having privacy then don’t use it. Simple. No need to fight about anything.

  20. Avatar

    Don't give $200, give $20,000 or $50,000, why not?. This is absurdity at its finest.

  21. Avatar

    Have any of these tin foil hat type people looked at Alaska? They've been using a supplemental UBI program that has helped people have more financial stability for decades. UBI works, people.

  22. Avatar

    A socialist tactic, I'm actually for experimentation…, make it a monthly renewable thing, digitally, to be safe…

  23. Avatar

    Hmm.. free $220 every few months, no questions asked, can use it for any local business, government will track what is being used for… or no pay and I can keep my sense of privacy.

    Is this even a question??? How much data do we give to regular companies already anyway??? Give me the money, gosh dang it. I wanna eat at local restaurants I usually don't go for!

  24. Avatar

    That's brilliant. Spending locally on important things and not on unnecessary things like in McDonald's is very good idea to regulate that money

  25. Avatar

    It’s a socialist policy. Not sure why wsj is advertising it.

  26. Avatar

    I'd be happy to spend it on health for my old crikety body. Like OA. Oh my poor knees!

  27. Avatar

    this is when real slavery begins

  28. Avatar

    No wonder it's better to be a western government than an eastern government because in western society it is ok to give their money to the government but is not ok to take money from government.

  29. Avatar

    If you want to know more about universal basic income, reading "Utopia for realists" is a must! Excellent book! 🙂

  30. Avatar
    Daniel Filipe dos Santos Bernardino

    The south imitading the North… This is not gonna ends well.. Its called :Socialism…People need jobs, not free money..

  31. Avatar

    30% of americans think they are doing this to get trump out of office. we need education so badly

  32. Avatar

    What if people start exchanging that money, not in return of goods from local stores – but in exchange for, say, 80% value in 'real' money. And then later on, spend that real money on goods from foreign companies. That would be almost as if the Korean government was paying its citizens to make foreign companies richer, wouldn't it?

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