Korea Federation of Small and Medium Enterprises said on the 3rd that it will run a "Yellow Umbrella birthday café pop-up store" at Seongsu Portal in Seongsu-dong, Seoul, to mark the launch date of Yellow Umbrella.
Yellow Umbrella is a mutual-aid program that small enterprises and self-employed people join to prepare for business closure or old age. Benefits include up to 6 million won per year in income deductions, protection of mutual-aid payouts from seizure, and annual compound interest. It launched on Sept. 5, 2007, and the cumulative number of subscribers now stands at 3.41 million.
The pop-up store will be held at Seongsu Portal for three days from the 4th to the 6th. It was prepared to expand contact points not only with the main subscriber base in their 40s to 60s but also with younger people preparing to start businesses, and to promote Yellow Umbrella.
At the pop-up store, a participatory program will deliver the message, "The severance pay for small enterprises and self-employed people is Yellow Umbrella." It features a quiz on the history of Yellow Umbrella, a severance pay calculator that estimates severance and tax-saving amounts, and a game to experience the 3.7% compound interest rate on business-closure mutual-aid payouts.
Lee Chang-ho, head of the mutual-aid business division at KBIZ, said, "Seongsu-dong is a symbolic space where the old history of manufacturing and modern commercial trends coexist," adding, "We hope this Yellow Umbrella pop-up store will make Yellow Umbrella familiar not only to existing business owners but also to young prospective entrepreneurs."