While Gyeonggi Province has decided to significantly lower its share of funding for the youth basic income program due to financial difficulties, 25 out of 31 cities and counties in the province are projected to continue the program next year.

The youth basic income is a welfare policy introduced in 2019 by then-Gyeonggi Governor Lee Jae-myung, providing 1 million won per year (250,000 won per quarter) in local currency to 24-year-olds regardless of their income level.

According to Gyeonggi Province and local municipalities on September 27, the province is completely adjusting the budget-sharing ratio for the youth basic income from 70 percent provincial funding and 30 percent municipal funding this year to 30 percent provincial funding and 70 percent municipal funding next year.

Following a demand survey and opinion inquiry targeting the 31 cities and counties for this purpose, a total of 25 municipalities, including Goyang which did not allocate a budget this year, decided to participate in next year's program.

On the other hand, four municipalities including Seongnam, which had previously abolished the relevant ordinance altogether, responded that they would not participate in the program due to increased budget burdens, and two municipalities have postponed their decision.

This year, 29 cities and counties operated the program, excluding Seongnam and Goyang.

The target number of 24-year-old youths eligible for support next year is estimated at around 111,800, and according to the adjustment of the funding ratio, the budget to be borne by Gyeonggi Province is expected to decrease from 783 billion won this year to around 30 billion won next year.

An official from Gyeonggi Province said, "We will finalize the details of the program by additionally receiving opinions from the two currently undecided municipalities by the end of next month, when we draw up next year's main budget proposal."
 
(Photo provided by Gyeonggi Province, Yonhap News)