The Impact of Money Politics on Choice and Accountability of South Korean Democracy

Abstract

This paper aims to explore how money politics undermines democratic choice and representation in Korea. Starting during authoritarian rule, when major political figures had financial dealings with chaebol groups, these relationships established enduring dependencies that remain today. Based on a qualitative case-study approach, the authors of this study identify three channels by which money affects electoral process: influence voting systems, leave politicians open to bribery and corrupt influences, and taint what should be a fair way of doing things. The study explains how these channels heighten routine electoral slam dunks, make policy biased towards the economic elite and attract public blaming and distrust. It also scrutinizes post-crisis reforms since 1997—from stronger audit controls for campaign finance laws to more openness in government-as well as their results on balance points out positive as well as negative factors. Finally, the paper suggests policy interventions, for example, tougher rules for donations declaration of assets by politicians, and campaign funding in support of under-represented candidates. Emerging from these findings is the need for deep-rooted democratic change in order to make sure voter-privileged fully represented us citizens and public reliance on political power.Future research will utilize new methods of data collection for deeper understanding of this phenomenon. Evaluation and enforcement enhanced campaign finance regulation, in particular, must be independently examined by specialists.The South Korean Press will find freedom from the power wielded by a few elite companies, which diverse opinions now compete in great numbers.