39. Are there limits on the amount a political party can spend?

(1) For the purpose of this Act, the term "election expenses" means money, goods, obligation, or other things of economic value required for the election campaign in the election concerned and borne by a candidate (including a person intending to become a candidate, and including a political party which recommends a candidate in the presidential election, in the election of the proportional representative National Assembly members and in the election of the proportional representative local council members; hereafter in this paragraph, the same shall apply)
Source: Article 119, Public Officials Election Act, 2021

(1) The restricted amount of election expenses shall be the amount to be computed for each election pursuant to each of the following. (...)
1. A presidential election: Number of population × 950 won; 2. The election of National Assembly members of local constituency: 100 million won + (number of population × 200 won) ＋ (the number of Eup/Myeon/Dong × 2 million won): In this case, if one local constituency for electing a member to the National Assembly is composed of at least two autonomous Gus/Ssi/Guns, the amount of 15 million won shall be added for each more than one autonomous Gu/Si/Gun; 3. The election of proportional representative National Assembly members: Number of population × 90 won; 4. The election of City/Do council members of local constituency: 40 million won ＋ (number of population × 100 won); 5. The election of proportional representative City/Do council members: 40 million won ＋ (number of population × 50 won);

6. The election of Mayors/Do Governors:
(a) The election of Special Metropolitan City Mayor, Metropolitan City Mayors, and Special Self-Governing City Mayor: 400 million won (200 million won when population number is short by two million) ＋ (number of population × 300 won); (b) The election of Do Governors: 800 million won (300 million won when population number is short by one million) ＋ (number of population × 250 won); 7. The election of autonomous Gu/Si/Gun council members of local constituency: 35 million won ＋ (number of population × 100 won); 8. The election of proportional representative autonomous Gu/Si/Gun council members: 35 million won + (number of population × 50 won); 9. The election of heads of autonomous Gus/Sis/Guns: 90 million won＋(number of population × 200 won) ＋ (the number of Eup/Myeon/Dong × 1 million won).
Source: Article 121, Public Official Election Act, 2021

Specific restrictions exist for political elections at each level.

"...2. The election of National Assembly members of local constituency: 100 million won + (number of population × 200 won) ＋ (the number of Eup/Myeon/Dong × 2 million won): In this case, if one local constituency for electing a member to the National Assembly is composed of at least two autonomous Gus/Ssi/Guns, the amount of 15 million won shall be added for each more than one autonomous Gu/Si/Gun; 3. The election of proportional representative National Assembly members: Number of population × 90 won;"