Junggi Central Association Provides Swift Support to Victims of Muan Airport Passenger Plane Disaster

Payment of Mutual Aid Funds and Group Insurance Benefits to Victims Among Small Business Owners Enrolled in the Yellow Umbrella Program

The Korea Federation of Small and Medium Business announced on the 5th that it will provide swift and maximum support to the families of the victims of the Muan Airport passenger plane disaster who are enrolled in the Yellow Umbrella.

So far, two victims of the disaster have been confirmed to be Yellow Umbrella members. The families of the victims will receive the 'Yellow Umbrella Mutual Aid Fund,' and if they joined within the last two years, they can receive up to 150 million KRW more through group insurance supported as a welfare service.

The Yellow Umbrella will promptly verify the membership status of the victims and have its executives and staff visit in person to provide counseling and guide the support procedures to ensure that mutual aid funds or group insurance payments are quickly disbursed.

Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business, said, "It is even more heartbreaking that small business owners who have quietly continued their livelihoods despite difficulties after COVID-19 are among the victims of this disaster," adding, "Going forward, the Yellow Umbrella will provide the fastest possible support to small business owners affected by unforeseen disasters and fulfill its role as a social safety net."

The Yellow Umbrella is a representative social safety net for small enterprises and small business owners, providing mutual aid payments, income deductions, and welfare services to ensure livelihood stability and opportunities for business recovery from threats such as closure, old age, and disasters. Since its introduction in 2007, it currently has 1.77 million members.

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