The National Election Commission Provides 46.5 Billion KRW in Presidential Election Subsidies to Five Political Parties

[Asia Economy Reporter Koo Eun-mo] The National Election Commission announced on the 16th that it has paid 46.55 billion KRW in election subsidies to five political parties for the 20th presidential election.

By party, the Democratic Party of Korea (172 seats) received 22.47 billion KRW, the People Power Party (106 seats) 19.45 billion KRW, the Justice Party (6 seats) 3.17 billion KRW, the People Party (3 seats) 1.42 billion KRW, and the Basic Income Party (1 seat) 40 million KRW. The Election Commission provides election subsidies to parties that have presidential candidates based on the number of seats they hold in the National Assembly.

The Election Commission also paid 11.64 billion KRW in regular subsidies to each party for the first quarter of this year. The amounts paid by party were: Democratic Party 5.49 billion KRW, People Power Party 4.77 billion KRW, Justice Party 780 million KRW, People Party 350 million KRW, Basic Income Party 10 million KRW, and Transition Korea 10 million KRW. The Minsheng Party, an extraparliamentary party, received 230 million KRW. Parties holding seats in the National Assembly are eligible for regular subsidies, and parties without seats can receive subsidies if they achieve a certain level of votes in recent elections.

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