Open Party Raises 4.2 Billion KRW in Election Funds in Just One Hour Through 'Open Fund'

[Image source=Yonhap News]

[Asia Economy Reporter Wondara] The Open Democratic Party, led by former lawmaker Jeong Bong-ju and lawmaker Son Hye-won, raised 4.2 billion KRW in election funds within one hour through the 'Open Fund'.

On the 1st, the Open Party announced, "We launched the Open Fund at 1 PM, and by 1:58 PM, just 58 minutes after the start, we reached the target amount of 4.2 billion KRW and closed the fund."

They added, "We thank the party members and citizens who participated," and emphasized, "We consider this support as encouragement to work hard in the election campaign and will do our best to achieve victory in the general election."

The National Election Commission reimburses the full election expenses to parties that exceed a 3% vote rate in proportional representation. The Open Fund repays the principal and interest, including a 2% annual interest rate, three months after the election. Previously, President Moon Jae-in raised 32.98063 billion KRW, exceeding the target of 10 billion KRW, in just 61 minutes through the 'People's Share Moon Jae-in Fund' during the 19th presidential election.