The Yellow Umbrella Deduction is a deduction system for small businesses and small business owners to protect them from threats to livelihood such as closure of business or old age, and to make use of funds through income deductions and loans.
Yellow idol deduction eligible for membership
Source: Yellow Umbrella website
How to join the Yellow Umbrella Mutual Aid Association
1) Visit an offline bank branch
National, Enterprise, Nonghyup, Shinhan, Woori, Hana, Gyeongnam, Gwangju, Daegu, Busan, Jeonbuk, Jeju, Postal Service Headquarters, Saemaul Geumgo Central Association, Suhyup Central Association 노란우산공제 가입조건
You can visit and sign up. 좋은뉴스
2) Visit to the Korea Federation of SMEs
You can apply for membership by visiting the nearest office such as the headquarters of the Korea Federation of Small and Medium Enterprises, regional headquarters, and branch offices.
3) Online application (certificate required)
Access the Yellow Umbrella Mutual Aid Association website → Registration and payment information → Apply for online subscription
Source: Yellow Umbrella Mutual Aid Association website
※ Registration documents
Application form (website download)
1 copy of business registration certificate
Documents that can confirm sales, such as business financial statements or a certificate of VAT tax base
A certified copy of corporate registration (in case of a corporation)
Sales Confirmation
Confirmation of non-application of unregistered small business closure (download from website)
Withdraw your subscription
If you wish to cancel the contract, you can cancel the contract within 30 days from the date of subscription.
You can also get a full refund of the installment you paid.
yellow umbrella mutual aid association benefits
1) Prohibition of seizure (opening of a seizure prevention account)
– The law prohibits seizure, transfer, and provision of collateral for deductibles, so even if the business is closed, it will be transferred to the Happiness Keeper’s account.
You can secure a minimum amount of money for business recovery and a living security.
2) compound interest
– Deductions are accumulated by applying annual compound interest to the total amount of the payment without deducting any additional business expenses.
Source: Yellow Umbrella website
3) Yellow Umbrella Deduction Hope Incentive
– The local governments that have signed an agreement with the Korea Federation of Small and Medium Businesses to support small business owners for their livelihood stability and social stability network.
– Subscription target
Small business owners who meet certain requirements such as annual sales from local governments
Excluding real estate rental business in Seoul, Incheon, and Gangwon-do
In the case of Gangwon-do, as of the date of application, small business owners enrolled in the mutual aid program with at least 1 year of business experience in the province
Number of full-time employees: less than 10,
Mining, manufacturing, construction, transportation: less than 5 (other industries)
※ Application conditions
Source: Yellow Umbrella website
Source: Yellow Umbrella website
4) Yellow umbrella deduction income deduction
– Tax-saving effect for businesses with a high tax burden as it grants up to 5 million won per year income deduction for paid installments
Source: Yellow Umbrella website
Source: Yellow Umbrella website
Source: Yellow Umbrella website
Source: Yellow Umbrella website
yellow umbrella deduction loan
– Loan products within payment installments provided only to contractors with yellow umbrella deduction for small businesses and small business owners who have difficulty in lending
See image below for interest and loan details
Source: Yellow Umbrella website
Yellow umbrella deduction website address and phone number
Yellow Umbrella Deduction Contract Inquiry Phone Number: 1666 – 9988
yellow umbrella deduction website