National Subsidies for the 4th Quarter of 2015

The National Election Commission of the Republic of Korea (NEC) provided about 9.86 billion Korean Won (approx. USD 8,400,000) of current subsidies for the fourth quarter to three political parties.

《Details on Subsidy Payment for the Fourth Quarter of 2015》

 (Unit: Korean Won)

* US dollar amounts in brackets are approximate. 

In compliance with Article 27 of the Political Funds Act, half of the total national subsidy is divided and equally given to political parties holding a negotiation group in the National Assembly at the time of disbursement, while each political party having more than five but less than 20 seats in the National Assembly is entitled to 5% of the total amount of subsidies.

After distributing based on the aforementioned criteria, half of the remaining subsidies go out to political parties holding a seat in the National Assembly according to the ratio of the number of seats gained by each party. The other half is disbursed based on the ratio of the number of votes obtained by political parties in the most recent 19th National Assembly elections which was held on April 11, 2012.