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National subsidy (9.5B KRW) for the 2nd quarter of 2013 to political parties

Date :05/22/2013Read : 235

National subsidy (9.5B KRW) for the 2nd quarter of 2013 to political parties

 

 The National Election Commission (NEC) provided the subsidy for the 2nd quarter of 2013 to four political parties on May 15, 2013. The total amount was 9.518 billion won and the amount distributed to each political party is as follows.

Index

 

Number of Seats

Amount

(KRW)

Percentage

(%)

Total

292

9,518,500,000

100.0%

Saenuri Party

154

4,340,469,460

45.6%

Democratic Party

127

3,984,901,720

41.8%

Unified Justice Party

6

684,606,220

7.2%

Progressive Justice Party

5

508,522,600

5.4%

 The subsidy is distributed every quarter of a year. Political parties registered in the NEC at the time of distribution are entitled to receive the subsidy in accordance with the following requirements.

- 50% of the total amount is distributed equally to political parties which formed a negotiation body in the National Assembly.

- Political parties holding five seats or more but less than 20 seats are respectively entitled to get 5% of the total amount.

After distributing the subsidies according to the criteria explained above, the half of the remaining will be offered to parties based on the percentage of seats in the National Assembly; and the rest half is distributed to the political parties according to voting rates in the latest National Assembly election.

Political parties who received the subsidy should use 30 percent of the total on policy institutes, 10 percent for development of female politics and 10 percent on City/Province office of parties.

 

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