The Basic Income Party (, BIP) is a single-issue political party in South Korea advocating for a universal basic income (UBI).

History

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 An election commission is a body charged with overseeing the implementation of electioneering process of any country. The formal names of election commissions vary from jurisdiction to jurisdiction, and may be styled an electoral commission, a c ...

on 19 January 2020. The party puts a strong emphasis on that their members are mostly young adults. The party joined the

Platform Party The Platform Party () was a political party and an electoral alliance under the Democratic Party in South Korea formed in 2020 in order to run for party-list proportional representation in 2020 South Korean legislative election. History T ...

(party-list of the

Democratic Party Democratic Party most often refers to: *Democratic Party (United States) Democratic Party and similar terms may also refer to: Active parties Africa *Botswana Democratic Party *Democratic Party of Equatorial Guinea *Gabonese Democratic Party *Demo ...

) on 21 March 2020 for the

2020 South Korean legislative election Legislative elections were held in South Korea on 15 April 2020. All 300 members of the National Assembly were elected, 253 from first-past-the-post constituencies and 47 from proportional party lists. They were the first elections held under a ...

. Two candidates ran for proportional representation. Yong Hye-in was elected under the party-list proportional representation. After the election, Yong rejoined the party.

Ideology

The party advocates for the implementation of a ₩600,000 (roughly equivalent to 500 United States dollars) per month basic income for all citizens of South Korea. 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.

Election results

President

Legislature

References

External links

* {{basic income 2020 establishments in South Korea Universal basic income in South Korea Political parties established in 2020 Political parties in South Korea Feminist parties Single-issue political parties Liberal parties in South Korea Progressive parties in South Korea Social liberal parties Political parties supporting universal basic income