The Korea Federation of Small and Medium Enterprises visited the "memorial altar for the victims of the Jeju Air aircraft disaster" on the 2nd to express condolences and noted on the 5th that it will provide swift and maximum support to the bereaved families of the victims who have joined the "yellow umbrella."
According to KBIZ, 2 people have been confirmed as members of the "yellow umbrella" among the disaster victims so far. The bereaved families will receive the "yellow umbrella compensation," and if they joined within the last two years, they will receive up to 150 million won (150 times the monthly contribution amount) in "insurance money" through a group insurance policy that provides welfare services.
The "yellow umbrella" plans to promptly verify the membership status of the victims and ensure that compensation or group insurance payments are processed quickly, with staff visiting directly to guide consultations and support procedures.
Kim Gi-mun, president of KBIZ, said, "It is even more regrettable that small business owners, who have quietly continued their livelihoods in difficult situations after COVID-19, are among the victims of this disaster," and noted, "We will continue to ensure that the yellow umbrella provides prompt support to small business owners affected by unforeseen disasters, fulfilling its role as a social safety net."
The "yellow umbrella" provides compensation payments, income deductions, and welfare services to help small and micro businesses to secure their livelihoods and opportunities for business re-establishment against threats such as bankruptcy, aging, or disasters.