Basic income for rural areas in Namhae-gun is expected to boost the local economy during the Chuseok holiday.

(Namhae = Yonhap News) Reporter Park Jeong-heon = Namhae-gun, the only one in Gyeongsangnam-do that has introduced a basic income pilot project for rural areas, expects that this basic income will further revitalize the local economy as the Chuseok holiday approaches.

According to Namhae County on the 25th, the total amount of basic income payments to rural and fishing communities that has been implemented since January of this year reached 38.6 billion won as of the end of July.

Of this, 29.4 billion won was actually used, recording a high usage rate of 76.1%.

Looking at the usage status by industry, consumption closely related to the daily lives of county residents was the mainstay.

The restaurant industry was the highest at 26.3% (KRW 7.746 billion), followed by the distribution industry such as convenience stores, supermarkets, and marts at 16.8% (KRW 4.932 billion), medical/healthcare at 13.4% (KRW 3.951 billion), and gas stations at 11.3% (KRW 3.322 billion).

In particular, it was analyzed that in addition to general franchises, funds were distributed evenly through common franchises such as hospitals, pharmacies, and academies, as well as gas stations.

In the beginning, funds were mainly spent on essential living expenses such as food and daily necessities, but as the system became established, there was a tendency to gradually spread to areas where people had hesitated to spend money, such as sports, culture, and leisure.

The local financial resources of 150,000 won released regularly every month serve as priming water to support the basic economic cycle in rural areas.

This trend is expected to gain further momentum this Chuseok holiday.

It is expected to ease the financial burden on households, such as holiday shopping and gift purchases, and lead to holiday consumption, revitalizing traditional markets and revitalizing communities among families and neighbors.

It is expected to have the effect of redirecting consumer traffic, which would normally be directed to large retailers or online, to traditional markets and small business districts in the region.

In addition, as returnees and residents who visit their hometowns for the holidays shop together at local stores and socialize, their bonds may become stronger and the liquidity of local commercial districts may increase.

However, some suggest that it is necessary to secure objective data for at least five years in order to accurately verify the effect of responding to changes in population structure and sustainable regional extinction beyond the short-term economic stimulus effect.

A military official said, "The basic income for rural and fishing communities is having a positive ripple effect, such as relieving the household burden of local residents and leading to increased sales for small business owners. We hope that this Chuseok holiday will be an important turning point in revitalizing the local economy."