The NEC announced the campaign expenses limit for the 19the National Assembly Elections: an average of KRW 192 million for candidates of district representative of the National Assembly; KRW 5.141 billion for the party’s campaigns for the proportional representation of the National Assembly.

The NEC and local election commissions posted the campaign expenses limit for 245 district representatives and proportional representation on their websites and notified political parties of it on December 1.

According to the Article 121(computation of restricted amount of election expenses) of the Public Official Election Act, the election expenses limit shall be the amount to be computed by elections: for the election of National Assembly members of local constituency, KRW 100 million + (population * KRW 200) + (the number of Eup/Myeon/Dong * KRW 2 million); for the election of proportional representatives of the National Assembly, population * KRW 90); changes in the consumer price index(12.5%, from April 30, 2008 to October 31, 2011) were accounted for respectively.

Compared to the 18th National Assembly elections (average limit of district representatives: KRW 186 million, proportional representatives: KRW 4.428 billion), the expenses limit of district representatives increased by KRW 6 million (3.2%) and the limit of proportional representatives rose by KRW 713 million (16.1%), because there has been an increase in population and consumer price index since 2008.

Across the country, the Wonju-si showed the highest election expenses limit for district representative (KRW 241 million); Ansan-si Danwon-gu B was the lowest (KRW 158 million).

When a campaign manager or an accountant in charge of campaign office is given prison sentences or fined more than KRW 3 million for spending more than 0.5% of the election expenses limit, the relevant candidate’s election shall be invalidated.

In addition, campaign expenses of preliminary candidates are also counted, so accountants in charge and bank account for income and expenditure should be reported with the registration of preliminary candidates and all the transaction of political funds should be conducted through the reported bank accounts.

The NEC announced that it will inform political parties and prospective candidates of transaction methods of campaign expenses, organize a task force for collecting data of the expenses and take a strict and swift measure against illegal activities. It also urged political parties and prospective candidates to abide by the law.

Moreover, as the registration of preliminary candidates for the 19^th National Assembly elections will begin from December 13, election commissions are holding briefing sessions to give information on candidacy: required documents, fill-out method and how to wage campaigns for preliminary candidates; restrictions under the Public Official Election Act; accounting practice of political funds, etc.