'Yoon Seok-yeol National Fund' Raises 50 Billion Won in 53 Minutes

Target Amount of 27 Billion Won Surpassed in 17 Minutes
'Lee Jae-myung Fund' Reaches 35 Billion Won in 109 Minutes

[Photo by Yoon Seok-yeol, captured from the National Fund website]

[Asia Economy Reporter Park Jun-yi] The 'Yoon Seok-yeol National Fund' established by the People Power Party raised 50 billion KRW within 53 minutes of starting fundraising. The initial target amount of 27 billion KRW was achieved in just 17 minutes.

The Public Relations Team of the People Power Party's Election Countermeasures Headquarters announced on the morning of the 14th, "The Yoon Seok-yeol National Fund, opened at 10 a.m. today, surpassed the target amount of 27 billion KRW within 17 minutes of fundraising," adding, "Due to overwhelming requests from participants wishing to make additional contributions, the server operation was extended, raising 40 billion KRW in 30 minutes and 50 billion KRW in 53 minutes."

The Yoon Seok-yeol National Fund closed at 10:53 a.m., 53 minutes after its launch. The total amount raised was 50 billion KRW.

This program allows participants to pledge a certain amount and receive their principal plus an annual interest of 2.8% around May 20. It was designed to raise election expenses for Yoon Seok-yeol, the People Power Party's presidential candidate. Anyone can participate, with a minimum contribution of 20,000 KRW per person, in increments of 10,000 KRW.

Previously, the 'Lee Jae-myung Fund' launched by the Democratic Party of Korea exceeded its target of 35 billion KRW within 1 hour and 49 minutes of its public offering on the 9th, concluding fundraising with a total of 76.888 billion KRW.