Korea Federation of SMEs Launches Yellow Umbrella Referral Event: KRW 50,000 Pay for Both Referrer and New Member

Unlimited Digital Pay Rewards for Each Referral
Complete Participation by Sending a Message via the App... Until November 30

On October 5, the Korea Federation of SMEs announced that it will hold a “Friend Referral Event” to promote awareness of the Yellow Umbrella Mutual Aid program and encourage new sign-ups.

Yellow Umbrella Mutual Aid Friend Referral Event Poster. Korea Federation of SMEs

Under this event, existing Yellow Umbrella members can recommend the program to acquaintances. If the referred acquaintance enrolls as a new member, both the referrer and the new member will receive a KRW 50,000 coupon, redeemable on either Naver Pay or Kakao Pay.

There are no limits to the number of referrals a participant can make in this event. If a member successfully invites multiple acquaintances to join, a KRW 50,000 digital pay coupon is awarded for each new sign-up. Referrers must be registered Yellow Umbrella members as of the date of recommendation, and participation is available through the Yellow Umbrella mobile app.

To participate, members should install the Yellow Umbrella app, log in, and use the “Friend Referral Event” menu on the main screen to send an auto-generated SMS (including a registration link) to acquaintances. When the acquaintance signs up using the link in the SMS, the event participation is complete.

The event runs until November 30. Digital pay coupons will be automatically delivered to both the referrer’s and the new member’s mobile phones the month after the new registration (contract) is completed, with no further application process required.

The Yellow Umbrella is a mutual aid system designed to support small business owners and self-employed individuals in times of business closure, old age, or management crisis, helping them to stabilize their livelihoods and restart their businesses. As of October, membership has surpassed 1.92 million. Members are eligible for up to KRW 6 million in annual income tax deductions, and annual compound interest is applied to their paid-in principal. Payouts from the program are legally protected from seizure.

Lee Changho, head of the Mutual Aid Operations Division at the Korea Federation of SMEs, stated, “We hope this event will serve as an opportunity for subscribers to introduce the Yellow Umbrella and its diverse benefits to small business owners and self-employed people around them. We will continue to provide a wide range of services to ensure stable management and a better future for small business owners.”

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