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

Public Officials Election Act, Article 121:

Article 121 (Computation of Restricted Amount of Election Expenses)      Printed articles
(1)    The restricted amount of election expenses shall be the amount to be computed for each election pursuant to each of the following. In such cases, any fraction falling short of one million won shall be deemed one million won: <Amended by Act No. 7681, Aug. 4, 2005; Act No. 8879, Feb. 29, 2008; Act No. 13497, Aug. 13, 2015>
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);
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 Metropolitan Autonomous 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).
(2)    When computing the restricted amount of election expenses under paragraph (1), it may be increased or reduced by applying the ratio (hereinafter referred to as ""ratio of computing the restricted amount"") set by taking account of the fluctuation ratio of national consumer price (referring to the fluctuation ratio of national consumer price publicly announced annually by the Commissioner of the Statistics Korea under Article 3 of the Statistics Act) from the end of the month whereto belongs the election day of the election due to an expiration of terms of office immediately preceding the relevant election to the end of the month prior to immediately preceding one next to the month whereto belongs the notification day under Article 122. In such cases, the ratio of computing the restricted amount shall be decided by the competent constituency election commission for each relevant election. <Amended by Act No. 7681, Aug. 4, 2005>
(3)    The standard date of population numbers for computing the restricted amount of election expenses, a decision on ratio of computing the restricted amount, and other necessary matters shall be stipulated by Regulations of the National Election Commission.
[This Article Newly Inserted by Act No. 7189, Mar. 12, 2004]"""

"It depends on the 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);
3. The election of proportional representative National Assem"