The Democratic Party of Korea recently stated that it will not raise funds for the 21st presidential election, as scams such as 'no-show fraud' impersonating the party have become rampant.
Kim Yoon-duk, the Democratic Party of Korea's secretary general, noted during a briefing at the party's central office in Yeouido, Seoul, on the morning of the 19th, that "the impersonation incidents regarding the Democratic Party are quite concerning," adding, "If someone were to impersonate the Democratic Party to raise funds and extort money, serious problems could arise."
He also said, "The Democratic Party will not raise funds for this presidential election," and added, "We plan to receive a loan through a bank to conduct the election with the insufficient budget."
He continued, "After the election concludes, we will receive election compensation in August and plan to manage the budget by using that compensation to repay the loan."
The Democratic Party of Korea has released funds previously to raise money for election expenses, using the amounts raised through these funds for election costs, explaining that it has operated its finances based on receiving compensation after the election.
Earlier, during the 20th presidential election in 2022, a fund called the Lee Jae-myung fund utilizing non-fungible tokens (NFTs) was launched, achieving its target amount of 35 billion won within two hours of its opening.
Originally, the Democratic Party intended to launch the 35 billion won 'Lee Jae-myung fund' to cover the election expenses of its presidential candidate Lee Jae-myung on the 20th to 21st.