Yellow Umbrella Accepts Applications for "Um!brella Agency" to Support Small Business Owners in Crisis

Comedian Um Ji-yoon and idol group member Wonjin visit stores to provide promotional and part-time work support

The Korea Federation of SMEs announced on March 16 that it will launch the Yellow Umbrella digital campaign, "Um!brella Agency," to support small business owners struggling with sluggish sales and management challenges, and to encourage nationwide participation. The campaign aims to provide practical assistance and warm messages of support to small business owners who are at a crossroads between closure and restarting their businesses amid the current difficult economic situation.

"Um!brella Agency" is a nationwide participatory digital campaign with comedian Um Ji-yoon and Wonjin, a member of the idol group Cravity, serving as MCs. The two MCs will visit stores selected based on submitted stories and work to address the real-life concerns of small business owners through activities such as establishing customized promotional strategies for each store and providing one-day part-time work support. The MCs will also participate in the production of a "campaign song" that captures the vivid stories of small business owners.

Meanwhile, the Yellow Umbrella program is a mutual aid scheme operated by the Korea Federation of SMEs since 2007 to support micro and small business owners in securing their livelihoods and reviving their businesses in times of management crises such as closures or old age. As of March this year, more than 1.87 million members are enrolled in the program. Those who join the Yellow Umbrella are eligible for income tax deductions of up to 6 million won per year, and compound annual interest is applied to the principal, making it easier to accumulate a lump sum. In addition, the mutual aid payments are legally protected from seizure, ensuring a minimum level of financial security during crises.

Lee Changho, Head of the Mutual Aid Business Division at the Korea Federation of SMEs, said, "We have prepared this campaign to support small business owners struggling due to sluggish domestic demand and high inflation, and to gather support from the entire nation. We hope for widespread interest and many applications so that small business owners can once again pursue their dreams with the Yellow Umbrella program."

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