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National Subsidy for the 3rd quarter of 2011

Date :08/17/2011Read : 385

The National Election Commission (NEC) provided the national subsidy for the third quarter of 2011 to nine political parties on August 12, 2011. The total amount for 3Q 2011 was around 8.25 billion Korean won and the amount distributed to each political party is as follows.

 

○ Distribution of the national subsidy for the third quarter of 2011

Political Parties

Number of seats

Amount

(KRW)

Percentage

(%)

Total

290

8,250,284,890

100

Grand National Party

169

3,314,661,180

40.18

Democratic Party

87

2,793,712,920

33.86

Liberty Forward Party

16

567,930,180

6.88

Future Hope Alliance

8

560,787,030

6.80

Democratic Labor Party

6

502,501,230

6.09

Creative Korea Party

2

140,186,440

1.70

New Progressive Party

1

199,269,410

2.42

People First Union

1

4,176,500

0.05

People’s Participation Party

0

167,060,000

2.02

 

○ The National Subsidy is distributed as specified by the Article 27 of the Political Fund Act. Political parties registered with the NEC at the time of distribution are entitled to receive the national subsidy.  

 

- 50% of the total amount is distributed equally to political parties which formed a negotiating body in the National Assembly

 

- Political parties holding five seats or more but less than 20 seats are respectively entitled to get 5% of the total amount

 

- In case political parties hold none or less than five seats, they are entitled to respectively receive 2% of the total amount, provided that they meet certain requirements regarding the vote share in elections

 

- After distributing the subsidies according to the method explained above, the half of the remaining will be offered to parties based on the percentage of the seats in the National Assembly; and the rest half go to the political parties holding one or more seats in the National Assembly, in proportion to the vote share in the latest National Assembly elections.

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