Lee Jae-myung Spent 3 Billion Won More on Election Costs Than Yoon Seok-yeol

Lee Jae-myung Spent 43.8 Billion Won, Yoon Seok-yeol 40.8 Billion Won
Election Cost Reimbursement Targets: Democratic Party and People Power Party

[Image source=Yonhap News]

[Asia Economy Reporter Kwon Hyun-ji] In the March 9 presidential election, former Democratic Party presidential candidate Lee Jae-myung reportedly spent about 3 billion KRW more on election expenses than President-elect Yoon Seok-youl (former People Power Party presidential candidate).

According to the National Election Commission on the 12th, as of the 29th of last month, the Democratic Party submitted 43.85061 billion KRW, and the People Power Party submitted 40.86427 billion KRW as claims for presidential election expenses. According to the constitutional provision that "except in cases prescribed by law, election expenses cannot be charged to political parties or candidates," candidates who receive 15% or more of the total valid votes can be fully reimbursed for their election expenses. Candidates who receive between 10% and 15% of the votes are reimbursed half of their expenses. Candidates with less than 10% of the votes cannot receive any reimbursement.

In the last presidential election, the candidates eligible for reimbursement were President-elect Yoon and former candidate Lee, who received 48.56% and 47.83% of the votes, respectively. In terms of political parties, it was the Democratic Party and the People Power Party. Other parties and independent candidates, including former Justice Party presidential candidate Sim Sang-jung (2.37%), received less than 10% of the votes and are therefore not eligible for reimbursement.