Delivery of Contributions for 2014 to Political Parties

The National Election Commission (NEC) has announced that the fund contributed by the people throughout 2014 was around 4.4 billion won, down by 6.3 billion from 10.7 billion in 2013.

When looking at the contributions by source, the amount from public officials saw the decline of about 6 billion won, compared to the year before.

Unlike the money contributed to the political fundraising association, contributions are regarded as the political funds that people donate their money to election commissions directly with a view to supporting political parties.

The NEC distributes it over to each political party every quarter based on the facts as follows: whether or not a party could form a negotiating group in the National Assembly, how many seats political parties hold and the ratio of total number of votes obtained in the general election for National Assembly members.

The NEC noted that it makes an effort to spread the culture of clean political contribution with a small amount coming from a multitude of people. As part of such an effort, since 2005, the NEC has expanded the way to donate, using reward points of credit cards. In 2013, the Commission built up the smart-phone-based political sponsoring system that makes easier and more convenient for people to make a political contribution.  

In addition, the NEC raised the public interest and participation in the political contribution through various media, including advertisement via television, radio, printing materials, digital boards in public places and the internet. Also, vibrant promotions targeting public institutions and groups were conducted by the NEC.

Individuals who want to make contributions can visit the website of the political contribution center (www.give.go.kr); visit election commissions in person; or use their smart phones.

Those who contributed 100,000 won are eligible to claim tax deduction for the entire amount of their donation. The contribution ranging from above 100,000 to 30 million won is entitled to 15% of tax deduction for the exceeding amount and 25% for the donation exceeding 30 million won.

The National Election Commission (NEC) delivered a political fund of 4.4 billion won, which citizens had contributed to election commissions from October to December 2014 to three political parties at the National Assembly on January 13, 2015.

Contributions for the 4^th quarter of 2014

                                                                                              (Currency unit: KRW)

Secretary Generals from each political party were present at the delivery ceremony and the event was opened by the speech of Mr. Yong-Hi Kim, the Secretary General of the NEC, followed by report on the fund drive activities, the delivery of the fund and signing the pledge to the public.

In his speech, Mr. Kim said, he believes that there is more to the political fund from the public than a simple delivery of money. It also includes the people’s desire for clean politics, he added, and he requested that each political party take this valuable desire to heart and realize a politics of hope.