Around 5.59 Billion Won ($4.6 million USD) Provided to Political Parties in National Subsidies in 2015. 

= Saenuri Party 2.8 billion won, The Minjoo Party of Korea 2.48 billion won, The Justice Party 3 billion won =

The National Election Commission of the Republic of Korea (NEC) announced that throughout last year, with a hope for clean elections, citizens deposited a total of 5.59 billion won ($4.6 million USD) in election funds with the NEC, which amounted to 1.19 billion won more than the 2014 total of 4.4 billion won.

Since the current political funds system began in 1997, through the continuous development of various donation methods and the promotion of a donation culture, the NEC has received a total of approximately 73 billion won ($60 million USD) up until now. 

Unlike direct donations to Political Fund Associations of politicians such as National Assembly members, political funds deposited in the NEC can be made by any citizens, including public officials.  

The funds deposited by citizens into the National Election Commission are distributed every quarter according to factors such as the composition of the party’s negotiation group in the National Assembly, the number of seats the party holds in the National Assembly and the percentage of votes in the last National Assembly elections. 

▣ Diversification of ways to contribute including mobile homepages, KakaoPay and Payco. 

From 2005, in order to expand on contributing political funds via credit card points, the NEC has additionally included other contribution methods by building and operating mobile homepage donations last year that transcend time and location limitations and by using pin technology apps such as KakaoPay, Payco and PayNow to make contributing to political funds more simple. 

In particular, since last year it has been possible for users of KakaoTalk, the nation’s largest mobile phone messenger, to use the linked KakaoPay service to donate easily through the palm of their hands, therefore developing a culture where there is large number of small political donations.

▣ 61,000 people deposited political contributions with the NEC, with the majority donating small sums under 100,000 won ($100 USD).  

During last year 61,497 people participated in clean political fund contributions. Of those people, 61,401 (99.8%) donated under 100,000 won and the average contribution was found to be around 91,140 won.  

< 2015 Political Funds Fundraising Status >

(Measured in Won)

Those who plan to contribute political funds can visit any Election Commission office at any level, go to the NEC website and use the political fund donation center (www.give.go.kr) or use the mobile homepage. 

▣ 2015 4th quarters saw 5.5 billion won ($4.6 million USD) of political funds forwarded to 3 parties. 

On January 14 the NEC held a political funds forwarding ceremony, providing parties with the 5.5 billion won of political funds deposited with the NEC between October and December 2015. 

< 2015 Political funds forwarded by party >

(Measured in Won)

The event was attended by Kim Yong-Hi, the Secretary General of the NEC, and by the Secretary General’s and Head of General Affairs of each party. During the event a report on the of the method of raising deposited political funds was provided, people’s messages with the hopes for the future were shown, the funds were officially forwarded and the participants signed a pledge to the Korean people. 

In his opening remarks, NEC Secretary General Kim Yong-Hi said that even in the difficult economic conditions citizens had provided a substantial amount of donations and they expected the parties to engage in clean politics that took into account their wishes and hopes. 

The NEC will continue to make efforts to deeply ingrain the culture of small political donations to continue the healthy development of democratic politics.

< Yearly Status of Political Funds >