Korea Federation of SMEs "3 Million Yellow Umbrella Mutual Aid Subscribers, Goal to Achieve 40 Trillion Won in Contributions"

Yellow Umbrella Membership Reaches 1.5 Million Celebration Event
Awards for Meritorious Persons and Appointment of Next Year's Ambassadors

[Asia Economy Reporter Kim Bo-kyung] The Korea Federation of SMEs held the '1.5 Million Active Subscribers of the Yellow Umbrella Event' on the 7th at the Federation of SMEs in Yeouido, Seoul.

The event proceeded in the order of watching a video showcasing the major achievements and vision of the Yellow Umbrella, awarding plaques of merit and commemorative plaques to contributors, appointing promotional ambassadors, and a 1.5 million subscriber commemorative performance. The entire event was conducted in compliance with the government's COVID-19 prevention guidelines.

The Yellow Umbrella Mutual Aid, a social safety net for small businesses and self-employed individuals, surpassed 1.5 million active subscribers and 16 trillion KRW in contributions this July, 14 years after its launch in September 2007. As of December, the number of active subscribers reached 1.53 million, with contributions totaling 17.7 trillion KRW. The project plans to pursue a 2030 vision aiming for 3 million active subscribers and 40 trillion KRW in contributions.

The Federation of SMEs presented plaques of merit and commemorative plaques to those who contributed to the early establishment and expansion of the system. At that time, Kang Kwon-seok, President of Industrial Bank of Korea, supported the initial funding, and Kim Jung-tae, President of Hana Bank, initiated Yellow Umbrella Mutual Aid subscriptions at all branch counters, creating an opportunity for expansion to other commercial banks.

The event was attended by former promotional ambassadors Choi Bul-am, Song Ki-yoon, and Kim Chang-sook, who contributed to raising awareness of the Yellow Umbrella. Next year's promotional ambassadors were appointed as comedian Kim Jun-hyun and singer Yang Ji-eun.

Kim Ki-moon, Chairman of the Federation of SMEs, said, "Going forward, the Yellow Umbrella will further expand its small business and self-employed subscribers and support welfare services that meet customer needs, becoming a representative social safety net for small businesses and the self-employed."

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