Korea Federation of SMEs Launches Yellow Umbrella Online Promotion: Naver Pay Coupons for March Enrollees

Membership Up 16% Year-on-Year in January and February

The Korea Federation of SMEs announced on March 4 that it will hold the "Yellow Umbrella Online Enrollment Promotion" throughout March to mark the arrival of spring.

During the promotion period, which runs until March 31, representatives of small businesses and self-employed individuals who newly enroll in Yellow Umbrella through the official website or mobile app will receive a 50,000-won Naver Pay coupon.

Online Promotion Poster for Yellow Umbrella. Korea Federation of SMEs

Yellow Umbrella is a mutual aid program operated by the Korea Federation of SMEs since 2007 to support the livelihood stability and business recovery of small business owners and self-employed individuals in times of business crisis, such as closure or old age. As of March, the total number of registered members has surpassed 1.86 million.

In January and February of this year, the number of new Yellow Umbrella members reached 47,836, an increase of 16.0% compared to the same period last year (41,251). Notably, online enrollments totaled 11,964 in the same period, a 25.6% rise from last year’s 9,529.

Membership in Yellow Umbrella offers not only income tax deductions (up to 6 million won per year) but also compound annual interest applied to deposits, allowing members to build a substantial fund. Additionally, the mutual aid payment is legally protected from seizure, ensuring minimum livelihood stability in crisis situations.

Depending on the local government, newly enrolled small business owners in Yellow Umbrella may also receive the "Hope Incentive"—an additional savings contribution of 10,000 to 30,000 won per month (amount varies by region) for up to 12 months. This year, the Hope Incentive program is being operated by 17 metropolitan governments and 110 local governments nationwide.

Lee Changho, head of the mutual aid division at the Korea Federation of SMEs, said, "The proportion of customers conveniently enrolling online, without time or location restrictions, continues to grow. Through this promotion, we hope that even more small businesses and self-employed individuals will join the strong safety net that Yellow Umbrella provides."

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