The Party for Justice Innovation's 'Paranbulkkot Fund' Reaches 20 Billion KRW in 54 Minutes

"Originally 5 Billion KRW Fundraising Goal... Excess Amount to Be Returned"

The 'Blue Flame Fund' launched by the Joguk Innovation Party on the 26th reached 20 billion won within 54 minutes of starting fundraising and was closed early.

Cho Kuk, Leader of the Cho Kuk Innovation Party. Photo by Hyunmin Kim kimhyun81@

In a press release on the same day, the Joguk Innovation Party stated, "The original goal was to raise 5 billion won, but we quickly reached 20 billion won and had to close the fund urgently," adding, "We are in a difficult situation as inquiries from party members and supporters who could not join continue. We are considering additional fundraisings in the future, but we do not know when that will be."

The Blue Flame Fund is a fund launched by the Joguk Innovation Party to raise the necessary expenses for the April 10 general election. After the election, the election expenses reimbursed are returned to the fund subscribers as principal and interest. The interest rate is 3.65% per annum, and the principal and interest are scheduled to be repaid to the fund subscribers before June 12. Proportional representation parties receive full legal election expense subsidies from the national treasury if they secure more than 3% of the proportional votes.

Meanwhile, the Joguk Innovation Party plans to return the excess amount over the target of 5 billion won to subscribers according to the terms and conditions.

This content was produced with the assistance of AI translation services.