Jang Jaeseong, Gwangju City Council Member, "Local Yellow Umbrella Mutual Aid Subscription Rate Below National Average"

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] The subscription rate for the social safety net for small business owners in the Gwangju area, the 'Noranwoosan Gongje' (Yellow Umbrella Mutual Aid), has been found to be below the national average.

According to data submitted by Gwangju City to Jang Jaesung, a member of the Gwangju Metropolitan Council (Democratic Party, Seo-gu 1), the number of new subscriptions to Noranwoosan Gongje has steadily increased in the region over the past three years, but it still remains lower than the national average.

The number of new Noranwoosan Gongje subscriptions in Gwangju Metropolitan City was 1,675 in 2018 and increased by 563 to 2,238 in 2020 over two years. However, the current subscription rate in the Gwangju area is 22.3%, which is below the national average of 23.2%.

Seoul 25.0%, Daegu 24.4%, Incheon 25.1%, Ulsan 25.3%, and Daejeon 29.8% show high rates in most metropolitan cities, highlighting a significant difference.

Councilman Jang Jaesung said, "Small business owners pushed to the brink due to the prolonged COVID-19 pandemic are facing economic difficulties," and added, "To ensure small business owners receive effective support, the subscription rate for Noranwoosan Gongje must be increased."

He continued, "While preparing for this administrative audit, I met with local small business owners who lamented that even though they want to subscribe to Noranwoosan, they find it difficult due to insufficient payment capacity."

He further stated, "Thanks to subsidies of 30,000 KRW per month in Daejeon and 20,000 KRW per month in Daegu and Incheon, a high subscription rate for Noranwoosan Gongje was secured, which partially confirms the effectiveness of local government support," and added, "It is necessary to actively encourage subscriptions through expanded subsidies."

Meanwhile, Noranwoosan Gongje is a reliable social safety net and last resort for small enterprises and small business owners, providing income tax deductions up to 5 million KRW annually and compound interest when subscribing and paying a fixed monthly amount. It also refunds the amount when the subscriber closes the business, reaches old age, retires, or passes away.

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