Most Popular
-
6
Chaos unfolds as rare November snowstorm grips Korea for 2nd day
-
7
‘VCHA, Katseye and Dear Alice are not K-pop groups,’ industry experts say
-
8
BOK makes surprise 2nd rate cut to boost growth
-
9
Ador claims exclusive contracts with NewJeans still valid
-
10
Japan will pay for failing to honor promises, minister says
Questions are raised about the nation’s electoral watchdog’s move to lift a ban on corporate contributions to political parties. The National Election Commission has decided to submit a revision bill to the political funding law, which would allow corporations and other legal entities to donate to political parties.
In a formality taken ahead of launching the legislation process, the commission includes what it calls “smooth supplies of political funds and their transparency” on the agenda for a two-day public debate opening Thursday. The move comes after political parties halted the process of revising the political funding law in the face of mounting public opposition.
The electoral watchdog, pushing to permit corporate donations to political parties apparently on behalf of their lawmakers, is retreating from the pursuit of clean politics under the political funding law revised in 2004. The revised law encourages individuals to make small donations while banning corporate contributions.
If the law is revised as the election commission intends, a corporation will be allowed to donate up to 150 million won a year, 50 percent of which will go to the designated party, with the remainder divided among all political parties according to a preset rule. A business group with 10 affiliates, for instance, would be able to contribute as much as 1.5 billion won, which would make it possible for business enterprise to exercise great influence on political parties.
Lawmakers have claimed since 2004 that their legislative work and election campaigns are underfunded. The electoral watchdog needs to determine whether or not their complaint is legitimate. If so, it will have to determine how much more money is needed and recommend the way it is provided. Subsidies from state coffers are preferable to corporate donations.
In a formality taken ahead of launching the legislation process, the commission includes what it calls “smooth supplies of political funds and their transparency” on the agenda for a two-day public debate opening Thursday. The move comes after political parties halted the process of revising the political funding law in the face of mounting public opposition.
The electoral watchdog, pushing to permit corporate donations to political parties apparently on behalf of their lawmakers, is retreating from the pursuit of clean politics under the political funding law revised in 2004. The revised law encourages individuals to make small donations while banning corporate contributions.
If the law is revised as the election commission intends, a corporation will be allowed to donate up to 150 million won a year, 50 percent of which will go to the designated party, with the remainder divided among all political parties according to a preset rule. A business group with 10 affiliates, for instance, would be able to contribute as much as 1.5 billion won, which would make it possible for business enterprise to exercise great influence on political parties.
Lawmakers have claimed since 2004 that their legislative work and election campaigns are underfunded. The electoral watchdog needs to determine whether or not their complaint is legitimate. If so, it will have to determine how much more money is needed and recommend the way it is provided. Subsidies from state coffers are preferable to corporate donations.
