Korea Federation of SMEs and Korea Credit Data Sign 'Noran Usan' Business Agreement
[Asia Economy Reporter Kim Daeseop] The Korea Federation of Small and Medium Business (Kbiz) announced on the 11th that it has signed a 'Yellow Umbrella Business Agreement to Expand the Social Safety Net for Small Businesses and Small Merchants' with Korea Credit Data.
Through this agreement, banner advertisements will be posted on Korea Credit Data's mobile application 'Cash Note,' guiding its 650,000 members to easily subscribe via mobile. They will cooperate to expand Yellow Umbrella subscriptions through non-face-to-face and online methods.
The Yellow Umbrella is a public mutual aid system that supports small businesses and small merchants in preparing retirement funds for business recovery and livelihood stability against threats such as business closure and old age. Since its launch in 2007, the total number of subscribers has now exceeded 1.3 million.
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Seo Seungwon, the full-time vice chairman of Kbiz, said, "This business agreement will make it easier for many people to subscribe to the Yellow Umbrella," adding, "We will ensure that the Yellow Umbrella becomes a reliable support for small businesses and small merchants struggling due to COVID-19."
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