Current National Subsidies for 3rd Quarter of 2017​

= $9 million USD distributed to five political parties pursuant to the Political Fund Act =

The National Election Commission of the Republic of Korea (NEC) provided about 10.5 billion won (approx. $9 million USD) of current national subsidies for the third quarter to five political parties on August 14.

Details of Subsidy Payments for the Third Quarter of 2017

Unit: USD based on exchange rate on August 16, 2017 (Korean Won)

According to article 27 of the Political Parties Act, the current standards are to provide subsidies to political parties with a negotiation group in the National Assembly (more than 20 seats) 50% of the total funds divided equally among them, and then parties with between five and 20 seats receive 5% of the total funds each. 

In accordance with the above criteria, the remaining funds were then distributed to parties, with half distributed according to the number of seats they have in the National Assembly and half according to the number of votes obtained in the 20th National Assembly elections.