South Korea Premier Says Universal Basic Income ‘Impossible’
- Prime Minister Chung Sye-kyun speaks in a Bloomberg interview
- Chung designed a much-lauded coronavirus containment strategy
WATCH: South Korean Prime Minister Chung Sye-kyun discusses the government’s coronavirus vaccine strategy, Joe Biden and North Korea with Bloomberg’s Jeong-Ho Lee in Seoul.
Source: BloombergThis article is for subscribers only.
South Korea’s prime minister warned that universal basic income was “impossible” to implement, drawing a sharp contrast with other populist contenders for the presidency ahead of an election next year.
In an interview with Bloomberg News on Wednesday, Chung Sye-kyun said “politics based on populism” is “bound to fail.” The idea of across-the-board income support to address inequality has been backed by others in President Moon Jae-in’s progressive camp aiming to replace him when his single, five-year term ends in a little more than a year.