The Election Managment Committee Announces

The election management committee officially released its report on the fundraising activities of incumbent lawmakers, and never has the common Korean proverb of "Money chases power" seemed more true.

The party of President Kim Dae-Jung, the Millenium Democratic Party (formerly the National Congress For New Politics), dominated the fundraising with 31 of its incumbent lawmakers raising more than the 300 million won limit. The MDP was able to easily raise more money than its main rival the GNP despite having fewer seats in the National Assembly. The only other Congressman to raise more than 300 million won was Lee Sang-duek of the Grand National Party who ranked 24th by raising 330 million won.

The largest amount of money was raised by Kim Hong-il of the New Millenium Democratic Party and the eldest son of President Kim Dae-jung. Kim raised 690 million won from only one fund-raising event. The second largest amount was raised by Kim Sang-hyun from the Democratic People's Party who raised 650 million won and the third largest fundraiser was Jang Jae-sik from the New Millenium Democratic Party who raised 520 million won.

The average amount of funds raised by candidate, according to party; was 238 million won per candidate for the National Congress for Politics, 117 million won per candidate for the Grand National Party and 189 million won per candidate for the United Liberal Democratics.

Lee, Jae-chang, spokesman for the Grand National party criticized the MDP's fundraising saying, "The current regime not only makes preferential appointments, but also dominates political fundraising. This is going too far."

by Lee Jung-min