Based on UBI: From Idea to Reality
by Jong-sung You, Nam Hoon Kang & Seungju Lee
Korean Basic Income
Calculator
Personal information
Annual income
All amounts are in units of 10,000 KRW (×₩10k).
Real estate
Dependents
Add a spouse and dependents with income of ₩1M or less (or wage income of ₩5M or less).
Additional information
The Korean Basic Income Proposal
From the income-tax personal deduction
- →₩300K/yr
Land dividend, from a land-holding tax
- →₩800K/yr
Carbon dividend, from a carbon tax
- →₩550K/yr
Residents of depopulating rural areas
- →+₩600K/yr
Adults (19–64) with no income
- →₩3.3M/yr (₩4.95M/yr with the Common-Wealth Basic Income)
- →Below average income (₩33M): reduced by 10% of income
Children (18 and under) and the elderly (65+) with no income
- →₩6.6M/yr (₩8.25M/yr with the Common-Wealth Basic Income)
- →Below average income (₩33M): reduced by 20% of income
Those above average income
- →A 3–10% Basic Income Tax on income above average (this calculator applies 5%)
Child allowance · child tax credit · basic pension
- →Folded into the NIT
Basic livelihood benefits (living + housing)
- →Reduced within the range of the NIT
How it’s paid
- →12% of wage & business income (up to ₩27.5M/yr)
- →or up to ₩3.3M/yr
Replaces existing programs
- →Wage-income deduction and wage-income tax credit
- →Earned income tax credit and social-insurance premium support
Read the book for the full policy.
Basic income realized in the spirit of "Hongik Ingan" — justice and freedom for our times
Guy Standing
Professor of Development Studies, SOAS University of London; Honorary Co-President, Basic Income Earth Network
A Korean experiment the whole world is watching — an original blueprint for a sustainable future
Philippe Van Parijs
Emeritus Professor, University of Louvain; Honorary Co-President, Basic Income Earth Network
The potential to set a new standard for welfare reform in democratic states
Torben Iversen
Professor of Political Economy, Department of Government, Harvard University
A concrete alternative for tackling polarization in the AI era
Suh Sang-mok
President, International Council on Social Welfare; former Minister of Health and Welfare
Empirical proof of basic income's feasibility
Lee Jung-woo
Emeritus Professor of Economics and Trade, Kyungpook National University; former Chief of Policy Planning, Roh Moo-hyun administration
A new model of basic income embodying a realistic path and the value of gender equality
Almaz Zelleke
Professor of Political Science, NYU Shanghai
A tenacious blueprint that turns basic income's normative ideal into a real-world institution
An Hyo-sang
Chair, Basic Income Korea Network
A new-paradigm social vision for the age of AI and low birth rates
Lee Joo-hee
Professor of Sociology, Ewha Womans University