12. Is there a ban on donations from corporations with partial government ownership to candidates?
Korea, Republic of
'Those Who Are Ineligible to Make Political Contributions etc. (Article 31)The Political Fund Act defines foreign nationals, corporations and organizations both foreign and domestic as those who are ineligible to make political donations (Clause 1).Also, no one is permitted to make political contributions with the fund related to corporations and organizations both foreign and domestic (Clause 2), and the corporations and organizations are also not allowed to use their employees, constituents or family members to make the donations expediently.'(Quoted from NEC:s webpage -> Political Funds -> Details of of Political Fund Act ->Restriction on and Securities for Political Contributions, accessed on 2011-07-07) (Source: Republic of Korea, National Election Commission)
Art 32, 'No one shall contribute or receive any political funds in connection with any act falling under any of the following subparagraphs: ... 4. Acquiring any right, interest or position on or in property, or arranging the acquisition thereof through any contract or any disposition with a corporation falling under any of the following items: (a) A corporation that is created by the State, public organizations or pursuant to the provisions of any special Act; (b) A corporation whose majority shares and stake are owned by the State or any local government; (c) A corporation that receives directly or indirectly subsidies from the State or public organizations; (d) A corporation in which the Government invests or for which the Government offers a payment guarantee.' (Source: Political Fund Act, No.10395, Jul. 23 2010)
