The Basic Income Party (Korean: 기본소득당; Hanja: 基本所得黨; RR: Gibonsodeukdang; MR: Kibonsodŭktang, BIP) is a single-issue political party in South Korea advocating for a universal basic income (UBI). 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. 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." The party announced via their Facebook page on 7 November that they reached 5,000 members. 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. More information...
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