Governor Kim Dong-yeon of Gyeonggi Province, who is participating in the Democratic Party's 21st presidential primary, noted on the 14th that "basic income can be seen as populism." The "basic income" is a key promise of former Democratic Party leader Lee Jae-myung, which refers to universal welfare that includes cash support. This is a strategy to define it as populism and seek to differentiate himself. This remark came four days after he declared his candidacy for the presidential election, criticizing the former leader's tax cut promise.
That afternoon, Governor Kim held a 'Youth Empathy Talk Concert' inviting university students at a café located in Yeouido, Seoul. The concert was structured so that Governor Kim directly met with 2030 youth, received questions, and answered them one by one.
At this event, he repeatedly introduced his "opportunity income." He stated, "The basic income is to give indiscriminately to everyone. In a way, it can be seen as populism," adding, "I use the word opportunity instead of basic. My philosophy is opportunity. More opportunities, more equitable opportunities."
This statement distinguishes his approach from that of former leader Lee Jae-myung, who, during his time as mayor of Seongnam, implemented the 'Youth Basic Income' and has pushed 'Basic Society' as his representative policy.
When asked about the difference between "opportunity income" and "basic income," he explained, "Opportunity income is about supporting those limited individuals who do not gain recognition in the market for creating value in our society," adding, "In contrast, basic income theoretically provides cash indiscriminately, so it is difficult to find a strict definition of basic income in South Korea."
After the concert, Governor Kim explained to the press, "The fundamental difference between opportunity income and basic income is that basic income must meet conditions such as indiscriminateness, universality, and cash provision," clarifying that "opportunity income is limited in nature."
He further elaborated, "Opportunity income does not just give but requires participation in creating social value," noting that, "(Compared to basic income) the target is narrower and mostly temporary." The individuals Governor Kim identified as targets for opportunity income include artists, persons with disabilities, athletes, and caregivers.
He also remarked, "Opportunity income is about having individuals be evaluated by the market for the social value they undertake after a certain period," saying that "(Lee Jae-myung's) basic income and opportunity are similar in name only, while the content is vastly different."
He is also distancing himself from the 'Lee Jae-myung-style rightward shift.' Last year, the former leader announced the repeal of the financial investment income tax and a delay in the taxation of virtual assets, and recently indicated plans for reductions in inheritance tax, income tax, and corporate tax. However, he has not disclosed specific funding methods. In contrast, Governor Kim officially declared his candidacy for the presidential election on the 10th, stating, "I will not pursue irresponsible policies that excessively implement tax cuts."