The Basic Income Party came into existence when the ninth leadership board of the Labor Party led by Yong Hye-in resigned on 15 July.[4] Before the official founding of the party on 19 January 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."[5][6] The party announced via their Facebook page on 7 November that they reached 5,000 members.[7] The party officially registered with the National Election Commission on 19 January 2020. The party puts a strong emphasis on that their members are mostly young adults.[8]
In the March 2022 presidential election the party's candidate, Oh Jun-ho, ran on a policy of a universal basic income of 650,000 South Korean won (then $530) a month for all adults in South Korea.[12]
Although the party has no official ideology, it and its leader Shin Ji-hye have been described as socially liberal, advocating feminism and LGBT rights and seeking to improve the social safety net and remedy social disadvantages.[1][2]
^ ab"Minor Seoul mayoral candidates pledge to support women, LGBTQ people". The Korea Herald. 31 March 2021. Retrieved 28 September 2021. Socially liberal politician Shin Ji-hye of the Basic Income Party has pledged to provide a monthly basic income of 250,000 won ($220) for all Seoul citizens to build a better social safety net and remedy social disadvantages.
19,879
