The First Policy Experiment on Income Support in Korea, “The end point of polarization is “disintegration of local community.”
Seoul Metropolitan Government has launched a pilot version of the “Seoul Safety Income Project (SSIP)” for households earning below the median income. SSIP provides financial support to 1,600 households earning 85% or less of the Standard Median Income and holding USD 272,803 (KRW 326 million) or less in assets.
The project is designed to create a welfare model to prepare for the future of society, addressing income inequality and balancing out the unemployment triggered by the fourth industrial revolution. SSIP will run from July 2022 to June 2025, with effectiveness analysis conducted from May 2022 to December 2026.
- Official website: https://seoulsafetyincome.welfare.seoul.kr/eng/main/index.lp