New Start Fund to Provide KRW 100,000 to Small Business Owners Faithfully Repaying Debts Who Join Yellow Umbrella Fund

The New Start Fund announced on March 3 that it has signed a business agreement for business recovery support with the Korea Federation of SMEs and the Yellow Umbrella Mutual Aid Fund, and will expand the New Start Fund-Yellow Umbrella Leap Support Grant program for small business owners and self-employed individuals who are faithfully repaying their debts.

Kim Juhyun, Chairman of the Financial Services Commission, Lee Young, Minister of SMEs and Startups, Kwon Namjoo, President of the Korea Asset Management Corporation, and other key officials are posing for a photo after unveiling a plaque at the "New Start Fund Launch Ceremony" held on the 4th at the Korea Asset Management Corporation Yangjae Tower in Seocho-gu, Seoul. Photo by Jinhyung Kang aymsdream@

The Leap Support Grant is a win-win program that provides KRW 100,000 to small business owners who are repaying their debts through the New Start Fund and join the Yellow Umbrella Mutual Aid Fund. The program will continue this year following last year's implementation, and the eligibility criteria have been expanded. Previously, only those faithfully repaying debts under the “purchase-type” debt adjustment plan of the New Start Fund were eligible. Beginning this year, those who have signed “intermediary-type” debt adjustment agreements through the Credit Counseling & Recovery Service are also included.

Eligible applicants are small business owners who join the Yellow Umbrella Mutual Aid Fund by December 15, 2026, and are faithfully repaying debts that have been adjusted through the New Start Fund. However, those who have already received the same support grant in 2025 are excluded from eligibility.

Applications will be accepted starting March 3, and detailed information can be found on the official websites of the New Start Fund and the Yellow Umbrella Mutual Aid Fund. Kwon Namjoo, President of Korea Asset Management Corporation (KAMCO), said, “Through this agreement, we hope that more small business owners and self-employed individuals will have opportunities for business recovery and normalization of operations.” He added, “We will continue to support the livelihood stability and business recovery of small business owners and self-employed individuals who faithfully repay their debts despite challenging circumstances.”

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