Korea Federation of SMEs Celebrates 3 Million Yellow Umbrella Subscribers with Promotional Event

Fuel Gift Cards Awarded to New Subscribers by Lottery

The Korea Federation of SMEs announced on the 4th that it will conduct the ‘Yellow Umbrella 3·3·3 Promotion’ throughout March to celebrate surpassing 3 million cumulative Yellow Umbrella subscribers.

They will draw 300 customers who signed up through the website or app this month, along with the 3 millionth Yellow Umbrella subscriber, to receive a 100,000 KRW fuel gift card. Additionally, 300 participants who share the event post on the official Yellow Umbrella Instagram will be selected by lottery to receive a gifticon worth approximately 10,000 KRW.

The Korea Federation of SMEs announced that it will conduct the "Yellow Umbrella 3·3·3 Promotion" throughout March to celebrate surpassing 3 million cumulative Yellow Umbrella subscribers. Photo by Korea Federation of SMEs

The Yellow Umbrella is a retirement fund system designed to provide small businesses and small merchants with financial stability from business risks such as closures and to offer opportunities for business recovery. The contributions receive compound interest annually, income deductions up to 6 million KRW per year apply, and the rights to the deduction funds are legally protected.

The number of subscribers started at 4,000 when launched in 2007 and has surpassed 3 million this year. Among the cumulative 3 million subscribers, about 1.77 million are currently active, and 1.23 million small businesses and merchants have received deduction funds or cancellation refunds. Of these, 860,000 have received deduction funds due to business closure or other reasons, with a total payment amounting to 8.9 trillion KRW.

Lee Chang-ho, head of the Deduction Business Division at the Korea Federation of SMEs, said, "We will continue to be a reliable supporter for small merchants, the lifeblood of our economy, through stable fund management and proactive system improvements."

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