The Korea Federation of SMEs announced on the 6th that it held the '2024 2nd Yellow Umbrella Customer Rights Protection Committee' at the Federation of SMEs in Yeouido.
The committee was launched in 2021 to improve systems centered on Yellow Umbrella customers. About 15 people attended the meeting, including Chairman Hong Seok-woo, former Minister of Knowledge Economy, experts from various fields, and Yellow Umbrella subscribers.
At the committee, practical system improvements for Yellow Umbrella subscribers were proposed, including ▲expansion of income deduction limits ▲exclusion of health insurance premiums from the calculation of refund penalties ▲tax burden relief for long-term subscribers ▲strengthening subscriber welfare services ▲relaxation of restricted subscription industries.
In particular, there was a strong call to exclude health insurance premiums from income calculations when refunding contributions. If a subscriber arbitrarily refunds contributions before reasons such as business closure or old age occur, the principal and interest of long-term income deductions are included at once in the health insurance monthly income amount, which leads to a sharp increase in health insurance premiums and becomes a burden for small business owners.
The committee members emphasized, “This is an issue that must be improved for small businesses and small business owners who have no choice but to refund contributions due to financial difficulties.”
Chairman Hong said, “We will do our best to ensure that the matters collected by the committee are improved to protect the rights and interests of Yellow Umbrella subscribers, and we will continue to strive to make the committee a communication channel that represents the voices of subscribers.”
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