Yellow Umbrella '1+1' Subscription Promotion Event Held

Referral Bonus, Awards for Top Performers, and Generous Prize Distribution

[Asia Economy Reporter Kim Jong-hwa] The Korea Federation of SMEs (Chairman Kim Ki-moon) announced that from the 1st to the 31st of this month, it will conduct the 'Yellow Umbrella 1+1 Subscription Promotion Event' to expand Yellow Umbrella subscriptions.

This event rewards existing Yellow Umbrella subscribers with a subscription recommendation incentive of 50,000 KRW per new subscriber when they recommend Yellow Umbrella to their small business or small merchant friends.

Additionally, the top three performers who recommend and successfully subscribe 10 or more new members will receive prize money (1st place 3 million KRW, 2nd place 2.5 million KRW, 3rd place 2 million KRW). Those who recommend and subscribe two or more people will also be entered into a drawing to win generous prizes such as TVs, air purifiers, wireless vacuum cleaners, rice cookers, and Bluetooth earphones.

Yellow Umbrella has reached 1.4 million registered subscribers 14 years after its launch (as of the end of February 2021), and is expected to reach 1.5 million by September, serving as a representative social safety net for small businesses and small merchants.

Yellow Umbrella is a support system for small businesses and small merchants to prepare retirement funds (lump sums). It is operated by the Korea Federation of SMEs and managed and supervised by the government (Ministry of SMEs and Startups). Subscribers receive an annual income deduction of up to 5 million KRW and compound interest on their contributions, and the contributions are protected by law as a beneficiary right (exempt from seizure), allowing them to be used for living stability and business recovery funds.

Moreover, subscribers are provided with various welfare services such as free accident insurance enrollment (for 2 years), free management consulting, free education for business recovery and retirement preparation, discounted use of recreational facilities, and discounted health checkups, making it recognized as an essential system that small businesses and small merchants must join when running their businesses.

Park Yong-man, head of the Korea Federation of SMEs Mutual Aid Business Group, said, "The perception that Yellow Umbrella is a social safety net for small businesses and small merchants has greatly expanded," adding, "We will continue to develop it into a system that small businesses and small merchants want to join and that helps them run their businesses through new service offerings and system improvements."

This content was produced with the assistance of AI translation services.