The government will provide a basic monthly income of 150-thousand won, or some 103 U.S. dollars, to residents of farming and fishing communities that are facing the challenges of population decline.

The Ministry of Agriculture, Food and Rural Affairs said it will finalize on Wednesday the guidelines for implementing the basic monthly income pilot and distribute them to local governments that will start giving the cash handouts from the end of this month, after verifying the eligibility of recipients. 

The trial will cover ten regions through next year, including four counties in the Jeolla provinces. 

Local love gift certificates will be used to distribute the funds, which can only be used in the region where the recipient resides.

To objectively verify the effects of the guaranteed income during the trial period, the National Research Council for Economics, Humanities and Social Sciences will conduct systematic assessments based on economic, social and administrative fields to consider the direction of the main program.