Basic Income Party


The Basic Income Party is a single-issue political party in South Korea advocating for a basic income.

History

The Basic Income Party came into existence when the ninth leadership board of the Labor Party led by Yong Hye-in resigned on July 15. Before the official founding of the party on January 19, 2020, the Basic Income Party began establishing local chapters of the party across the cities and provinces of South Korea with the catch phrase ₩"600,000 a month for all." The party announced via their Facebook page on November 7 that they reached 5000 members. The party officially registered with the National Election Commission on January 19, 2020. The party puts a strong emphasis on that their members are mostly young adults.
The party joined the Platform Party (party-list of the Democratic Party on March 21, 2020 for the 2020 South Korean legislative election. Two candidates ran for proportional representation. Yong Hye-in was elected under the party-list proportional representation. After the election, Yong rejoined the party.

Ideology

The party advocates for the implementation of a ₩600,000 per month basic income for all citizens of South Korea.