Korea Federation of SMEs Holds '2026 Yellow Umbrella Workshop for Contributors to the Program's Development'
Financial institution employees with outstanding Yellow Umbrella enrollment records receive commendations from the Minister of SMEs and Startups
The Korea Federation of SMEs (KBIZ) said it held the “2026 Yellow Umbrella Workshop for Contributors to the Program’s Development” in Jeju from November 4 to 6, a three-day, two-night event.
The workshop was organized to recognize financial institution employees who contributed to expanding Yellow Umbrella membership and developing the program, and to share best practices. About 190 employees responsible for Yellow Umbrella at 13 financial institutions, including Hana Bank and NH NongHyup Bank, attended.
At the awards ceremony, 25 financial institution employees with outstanding records in attracting Yellow Umbrella members received commendations from the Minister of SMEs and Startups. The workshop that followed included updates on improvements to the Yellow Umbrella program and discussions of suggestions. It also featured best practices in customer service and sales know-how from each financial institution.
Oh Kiwoong, full-time vice chairman of the Korea Federation of SMEs, said, “Yellow Umbrella has become a leading social safety net for small enterprises and small business owners, with 1.92 million members, thanks to the efforts of financial institution employees on the ground.” He added, “We will continue working to improve the program and expand the social safety net so that more small enterprises and small business owners can prepare for business crises through Yellow Umbrella.”
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Launched in 2007, Yellow Umbrella is a mutual aid program that helps small enterprises and small business owners set aside retirement funds to prepare for economic hardships such as business closure or old age. It supports their financial stability and business recovery through benefits including an annual income tax deduction of up to 6 million won, loans against their contributions, and interest compounded annually. Yellow Umbrella has 1.92 million members, more than 50% of whom joined through financial institutions.
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