Dobong-gu Supports Up to 120,000 KRW for New Small Business Owners Joining the Yellow Umbrella Mutual Aid Program

Support of 10,000 KRW per month for up to 12 months for new deduction subscribers among small business owners with annual sales of 200 million KRW or less

Dobong-gu (District Mayor Oh Eon-seok) announced that it is promoting a support project for subscribing to the Yellow Umbrella Mutual Aid to strengthen the social safety net for local small business owners who are experiencing management difficulties due to consumption contraction caused by high inflation and high interest rates.

The support target is small business owners with annual sales of 200 million KRW or less who newly subscribed to the Yellow Umbrella Mutual Aid in 2023. When paying the mutual aid contributions, 10,000 KRW per month will be supported for up to 12 months. Unregistered small business owners, such as platform workers who pay business income tax but are not registered as business operators, can also receive support.

The Yellow Umbrella Mutual Aid is a system that pays a lump sum by applying compound interest to the amount paid so far when small business owners face difficulties due to reasons such as business closure or old age. Subscription is possible in units of 10,000 KRW per month, ranging from 50,000 to 1,000,000 KRW, and benefits such as an annual income deduction of up to 5 million KRW and protection of mutual aid payment rights can be received.

Small business owners who wish to subscribe can apply online through the Yellow Umbrella Mutual Aid website or visit commercial banks or the Korea Federation of SMEs (Seoul Regional Headquarters). For inquiries related to subscription, contact the Korea Federation of SMEs integrated call center.

Oh Eon-seok, Mayor of Dobong-gu, said, “We will continue to prepare and implement various customized policies to stabilize the lives of small business owners and help them recover.”