Gyeonggi Province's 'Opportunity Income' Faces Potential Cuts Amid New Administration's Austerity Drive

As Gyeonggi Governor-elect Choo Mi-ae signals a restructuring of expenditures to overcome fiscal challenges, attention is focusing on the future of the Opportunity Income program, a signature policy of current Governor Kim Dong-yeon.

The Opportunity Income program provides income support for a set period to individuals who create social value but remain uncompensated. It is largely divided into categories for artists, farmers and fishermen, and athletes.

According to Gyeonggi Province on June 28, the Artist Opportunity Income is available to individuals aged 19 or older who hold an artist activity certificate and have an income at or below 120 percent of the median income. The program is set to provide 1.5 million won each to approximately 17,000 people across 28 cities and counties.

The project costs are shared equally between the provincial government and local municipalities. During the provincial assembly's budget review, the provincial funding was reduced from 8 billion won last year to 5.05 billion won this year.

Gyeonggi Province initially planned to restore the funding to last year's level through a supplementary budget, but securing the necessary funds is expected to be difficult due to the austerity fiscal stance of the incoming 9th elected administration.

Consequently, it is reported that options such as reducing the number of recipients or the amount of support are being considered.

The Farmers and Fishermen Opportunity Income, the largest of the programs, is providing between 600,000 and 1.8 million won to approximately 196,000 farmers and fishermen across 26 cities and counties this year. Its budget has also been reduced from 68 billion won last year to 46 billion won.

The situation is similar to that of the Artist Opportunity Income, but the future of the program has become more complex.

This is because the transition committee for the governor-elect announced plans to reorganize the Farmers and Fishermen Opportunity Income into the Farmers and Fishermen Reliable Income, adding performance-based compensation for public interest activities and efforts to maintain rural communities.

Even with the transition to the Farmers and Fishermen Reliable Income, an increase in the budget is not guaranteed, making it highly likely that the support amounts will decrease.

The Athlete Opportunity Income provides 1.5 million won to approximately 1,600 individuals, including active athletes aged 19 or older with income at or below 120 percent of the median, as well as coaches, referees, player managers, and former athletes working in sports administration.

The budget for this year is 1.2 billion won, half of last year's 24 billion won, as the number of recipients was overestimated last year.

As a result, there is no expected budget shortfall for this year.

An official from the Gyeonggi Province department overseeing the Opportunity Income program stated, "It is understood that Governor-elect Choo Mi-ae also agrees with the purpose and effectiveness of the Opportunity Income, but given the difficult fiscal situation, we anticipate changes to the program details." The official added, "If the eligibility or support amounts change, we will provide sufficient notice to avoid any confusion."

(Photo: Gyeonggi Province, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.