A legal campaign spending is limited to 55,977 million KRW for one candidate running for the 18^th Presidential Election coming up on December 19, according to the National Election Commission.

The presidential campaign spending limit is calculated as follows in accordance with the Public Official Election Act, Article 121:

Apply the percentage rate considering the fluctuation rate of nationwide consumer price index (15.9%) to the amount, which is the total population (50,839,280) as of February 29 multiplied by 950 KRW.

The campaign spending for this coming presidential election shows an increase of 9,384 million KRW (20.1%) from 46,953 million KRW, which was the spending limit for the 17^th Presidential Election. The figures reflect an increase of 1,794,947 in population and the fluctuation rate of nationwide consumer price index since the 17^th Presidential Election.

The NEC released the presidential campaign spending limit on the NEC notice board as well as its website. Each political party has accordingly been informed.

Meanwhile, in case a campaign manager or an accountant in charge is sentenced to imprisonment or a fine of more than 3 million KRW for spending more than one-200th of the campaign spending limit, the election of the candidate concerned shall be invalidated.

Campaign spending by preliminary candidates will also be included in total campaign spending. Therefore when being registered as a preliminary candidate, he/she must register an accountant in charge and a bank account with the NEC. The registered bank account will serve as a record of incomes and expenses of political funds. Transactions must only be made through the nominated bank account.