Six Gyeongnam Counties Bid for 150,000 Won Monthly Basic Income Program

Uiryeong, Hadong, Sancheong, Hamyang, Geochang and Hapcheon Apply

Society|
|
By Park Jong-wan
||
A view of the South Gyeongsang Provincial Government building. - Seoul Economic Daily Society News from South Korea
A view of the South Gyeongsang Provincial Government building.

Six counties in South Gyeongsang Province have submitted applications for the additional call for the Ministry of Agriculture, Food and Rural Affairs' Rural Basic Income Pilot Project, the provincial government said Tuesday.

The applicants are Uiryeong, Hadong, Sancheong, Hamyang, Geochang and Hapcheon counties.

This round of the call targets 59 population-declining counties nationwide, excluding the 10 counties already designated under the existing pilot project, such as Namhae. The government plans to select five counties within its budget after a comprehensive evaluation of the applications.

Selected regions will provide every resident with 150,000 won per month in the form of local love gift certificates for 18 months, from the second half of this year through the end of 2027. The funding will be shared by the central government (40%), the provincial government (30%), and the county government (30%).

According to the province, six out of nine eligible counties in the region completed their applications, and competition is expected to be fierce with many local governments across the country participating.

To improve its chances of selection, the province is enhancing the completeness of each city and county's business plan, thoroughly completing preliminary administrative procedures including the submission of local funding commitment letters, and strengthening its response system.

The Ministry of Agriculture, Food and Rural Affairs will conduct document and presentation evaluations through Wednesday and announce the final selection results on Friday.

South Gyeongsang Province has previously proposed to the government that the current central government funding ratio be raised from 40% to 80% to substantially ease the financial burden on local governments.

Original reporting by Park Jong-wan for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

AI KEY

Preview
Korean Corporate Intelligence HubKOSPI · KOSDAQ · 12 sectors

A live, cap-weighted view of every KOSPI and KOSDAQ sector, with same-day Korean reporting distilled by company — built for foreign investors, correspondents and analysts who need to scan Korea before the next session.

Korea Chaebol Tree

Preview
Families Behind the GroupsKFTC May 2026 · DART filings

An English-first interactive map of Samsung, SK, Hyundai, LG and Lotte — built for foreign investors, correspondents and analysts. Korea translates companies into English. We translate the families behind them.

SIGNAL

Pre-register
English Edition · Capital MarketsM&A · IPO · PE · Fund Flows

Pre-register for SIGNAL English Edition — a premium subscription bringing Korean capital markets coverage (M&A, IPOs, private equity, fund flows) to global institutional investors. First access to the 50% introductory rate.