The NEC unveiled the information on assets and details on income and expenditure of political fund which were reported by political parties, political fundraising associations (PFA) for National Assembly members, and National Assembly members who have PFAs, according to the Political Fund Act ( article 40 : accounting report).

The total asset of political parties in 2011 was about 51.4 billion KRW; the total income (including party membership fees, contributions, subsidies, etc.) of political parties was about 111.4 billion KRW; and the total expenditure including expenses for policy development and operation expenses for party organization was about 91.4 billion KRW.

The figures have decreased in general compared to those in 2010 (total asset: 62.7 billion KRW, total income: 204.5 billion KRW, total expenditure: 176.7 billion KRW) when the 5^th local elections were held; but, the figures somewhat increased compared to those in 2009 (total asset: 47.3 billion KRW, total income: 96.9 billion KRW, total expenditure: 82.1 billion KRW) when no public official election at the national level was held.

In 2011, 298 political fundraising associations for National Assembly members raised a total 31 billion KRW of fund: which is decreased by 16.7 billion KRW and 10.1 billion KRW compared to 2010 (47.7 billion KRW) and 2009 (41.1 billion KRW) respectively.

The maximum amount of permissible fundraising for political fundraising associations for National Assembly members is 150 million KRW: but, in the year of elections which are held due to expiration of the term of office including the year of 2010, the maximum doubles to 300 million KRW.

Election commissions said the public inspection of accounting reports is allowed for 3 months from the day of public notice, so they asked the people to actively participate in the public inspection in order to create a transparent atmosphere for politics: in addition, anyone can raise an appeal, if he/she has an objection against accounting reports.

[Total Asset of Political Parties]

The total asset of political parties in 2011 was about 51.4 billion KRW, a 11.3 billion KRW down from the previous year (62.7 billion KRW in 2010): 49.5 billion KRW of the New Frontier Party (Saenuri Party); 5.2 billion KRW of the Democratic Unity Party; 68 million KRW of the Liberty Forward Party; 1 billion KRW of the Unified Progressive Party; - 4.8 billion KRW of Creative Korea Party; and 400 million KRW of the New Progressive Party.

[Income of Political Parties]

The total income of political parties was about 111.4 billion KRW, a 93.1 billion KRW decrease from the previous year (204.5 billion KRW in 2010 when the 5^th local elections were held).

The national subsidy (33.3 billion KRW) accounts for 29.9 %, the largest share of the total income of political parties.

<Details of Income of Major Political Parties>

(unit: million KRW)

[Expenditure of Political Parties]

The total expenditure of political parties in 2011 was about 91.4 billion KRW, a 85.3 billion KRW decrease from the previous year (176.7 billion KRW in 2010 when the 5^th local elections were held)

<Details of Expenditure of Major Political Parties>

(unit: million KRW)

[Details of Income of political fundraising association (PFA)s]

In 2011, political fundraising associations for National Assembly members raised a total 31 billion KRW of fund: which is decreased by 16.7 billion KRW and 10.1 billion KRW compared to 2010 (47.7 billion KRW) and 2009 (41.1 billion KRW) respectively. The average amount of each PFA was 104 million KRW: which is decreased by 52 million KRW and 35 million KRW compared to 2010 (156 million KRW) and 2009 (139 million KRW) respectively.

The maximum amount of permissible fundraising for political fundraising associations for National Assembly members is 150 million KRW: but, in the year of elections which are held due to expiration of the term of office, the maximum doubles to 300 million KRW.

<Number of Cases and Amount of Fund over the last 3 years>

(unit : 1,000 KRW)

The number of cases which should be open to the public (more than 3 million KRW of contributions per year) is 2,309 and the amount is 5.2 billion KRW, 17 % of the total contributions (31 billion KRW) of political fundraising associations for National Assembly members: in 2010, 2,999 cases and 7.8 billion KRW; in 2009, 2,033 cases and 5.2 billion KRW.

The NEC announced that it is investigating if there are illegal cases in the details of income and expenditure of political funds in 2011 through examination of accounting reports and on-sight inspection: illegal cases include intentional omission, false report, illegal expenditure, missing or falsification of documentary evidence; and a treasurer of each political party or group reports the details of income and expenditure of political funds.