The Election Commission Distributes 60.6 Billion KRW in Party Subsidies to the Democratic Party and People Power Party

[Image source=Yonhap News]

[Asia Economy Reporter Naju-seok] The National Election Commission announced on the 16th that it has paid a total of 60.6 billion KRW in party subsidies, including election subsidies for the upcoming June 1 local elections.

In a press release on the same day, the National Election Commission stated that it paid approximately 48.965 billion KRW in election subsidies related to the 8th local elections, including election subsidies, women recommendation subsidies, disability recommendation subsidies, and youth recommendation subsidies. Additionally, it paid 11.636 billion KRW as second-quarter operating subsidies to the Democratic Party of Korea, People Power Party, Justice Party, Basic Income Party, Sidae Jeonhwan, and Minsheng Party.

Accordingly, combining election subsidies and operating subsidies, the Democratic Party received 29.357 billion KRW, the People Power Party received 26.026 billion KRW, the Justice Party received 3.966 billion KRW, the Basic Income Party received 45 million KRW, Sidae Jeonhwan received 44 million KRW, and the Minsheng Party received 1.164 billion KRW respectively.

Election subsidies and operating subsidies are calculated by multiplying the total number of eligible voters in the recently held parliamentary elections due to term expiration by the subsidy unit price (1,058 KRW in 2022), and are determined based on factors such as the formation of negotiation groups in the National Assembly, the proportion of seats held in the National Assembly, and the proportion of votes received in the general election.

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