Koreabizwire
In a small county long defined by population loss, a new government pilot program offering monthly cash payments is stirring cautious optimism among residents and local businesses alike.
The rural basic income initiative, launched this week in 10 counties across South Korea, provides eligible residents with 150,000 won (about $110) per month in local currency vouchers. The program is designed to encourage spending within local communities and help reverse the economic stagnation and depopulation affecting many rural areas.
“I think it will help with our living expenses,” said Yoon Mi-ja, a homemaker in her 60s, as she browsed apples at a temporary market set up outside the county office in Jangsu, North Jeolla Province. Her two-person household will receive 300,000 won monthly under the program.
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