Basic Income Party calls for scrapping super-regional special zone bill, urges profit-sharing scheme

The Basic Income Party on Monday called for scrapping the super-regional special zone bill being pushed by the government and the ruling party, and urged the introduction of a profit-sharing scheme that would distribute gains from industrial innovation to local residents.

Basic Income Party fifth-term leadership — including party leader Oh Jun-ho, floor leader Yong Hye-in and supreme council member Shin Ji-hye — held a press conference at the Gwangju office of the South Jeolla-Gwangju Integrated Special City Council, saying that "supra-regional industrial policy must be designed to guarantee civic participation, regional coexistence, and labor and environmental rights."

"If public finances are backing industrial growth, the profits must also return to citizens," they said, calling for a profit-sharing scheme that would secure public investment stakes and revenue participation rights and distribute dividends to residents.

They also stressed that "exemptions that roll back labor rights — such as exceptions to the 52-hour workweek and extensions of the permitted period for non-regular employment — and excessive deregulation must not be allowed," adding that "responsible plans for energy, water resources and the environment must also be drawn up."

The super-regional special zone bill is a proposed law that would grant fiscal and tax support as well as regulatory exemptions to groups of cities and provinces that jointly develop strategic industries.

After the press conference, the party leadership visited the May 18 National Cemetery in Unjong-dong, Buk-gu, Gwangju, that afternoon to pay their respects to those who died in the May 18 Democratic Uprising.

Speaking in front of the Gate of Democracy, Oh said the country must "achieve a constitutional amendment in 2027 that enshrines the spirit of May 18 in the constitutional preamble," adding that the new constitution should also include a presidential runoff system and reforms to the Supreme Court justice appointment process to strengthen the foundations of a democratic republic.

Before the visit, Oh wrote in the guestbook: "With the spirit of liberation of May Gwangju, we will open a basic-income Republic of Korea and a better future for all."

Oh then met with Mayor Min Hyeong-bae at the integrated city's Gwangju office to discuss areas of cooperation, including profit-sharing from industrial innovation, accelerating the transition to renewable energy and distributing benefits to residents, and the full rollout of a basic income program for rural and fishing communities.

At the meeting, Oh proposed establishing a standing consultation channel to allow the party's South Jeolla-Gwangju chapter and the integrated city to maintain ongoing communication.