= Average raised by PFAs for political parties 486 million Korean won ($431,000 USD), average raised by PFAs for National Assembly members 166 million Korean won ($147,500 USD) =

The National Election Commission (NEC) of the Republic of Korea published the results of an aggregation of the funds raised by Political Fund Associations (PFAs) for political parties and National Assembly members in 2018. It was announced that PFAs for political parties raised a total of 4.3 billion Korean won ($3.8 million USD) and PFAs for National Assembly members raised 49.4 billion Korean won ($43.9 million USD). 

When looking at the nine PFAs that the political parties registered, the Justice Party PFA raised the most with 16.94 billion Korean won ($1.5 billion USD). After that the Minjung Party PFA raised 1.39 billion Korean won ($1.23 million USD), the Korean Patriots’ Party PFA raised 452 million Korean won ($401,000 USD), the Democratic Party of Korea PFA raised 270 million Korean won ($240,000 USD), the Green Party Korea PFA raised 194 million Korean won ($172,000 USD), the Labor Party PFA raised 189 million Korea won ($167,000 USD), the Our Future Party PFA raised 156 million Korean won ($138,000 USD), the Bareunmirae Party PFA raised  15 million Korean won ($13,200 USD) and finally the Party for Democracy and Peace PFA raised 6 million Korean won ($5,300 USD).

The system that allowed PFAs for political parties was abolished in 2006 was introduced again on June 30, 2017 after reform of the Political Fund Act. 

The average amount raised by PFAs for National Assembly members (298 members) in 2018 was 166 million Korean won ($147,500 USD), which was similar to the 2017 average of 180 million Korean won ($160,000 USD).

Citizens who wish to make donations may donate to more than one PFA. However, one person may not make donations exceeding 20 million Korean won ($17,700) in total per year and shall not exceed 5 million Korean won ($4,400) to a single PFA. 

The annual fundraising limit for PFAs is 5 billion Korean won ($4.4 million USD) in the case of PFAs for political parties and 150 million Korean won ($133,000 USD) in the case of PFAs for National Assembly members. However, in years when there are public official elections caused by the end of the term of office such as last year when the 7th nationwide simultaneous local elections were held, the limit is doubled. Therefore PFAs for political parties that put forward candidates in the election can raise up to 10 billion Korean won ($8.8 million USD) and PFAs for candidates for constituency member seats of the National Assembly can raise up to 300 million Korean won ($266,000 USD).

In addition, it was found that a total of 34 PFAs for members of the National Assembly received donations totaling more than the annual fundraising limit last year.

According to the Political Fund Act, when a PFA exceeds the annual fund raising limit (by less than 20%) unintentionally by raising funds from donations via credit card, savings accounts, telephone or an internet electronic payment system, those funds will be included in the fund raising limit for the following year.

The NEC also announced that anyone is able to read the accounting reports submitted by the accounting officers of political parties or PFAs for three months from the date of the public announcement and those who have objections to these accounting reports can file an objection during the inspection period. The NEC requested citizens to show a keen interest in and to participate in the PFA system to ensure a transparent political culture can take root.