The Korea Federation of SMEs announced today (August 21) that it will implement emergency support measures to help small businesses and micro-enterprises swiftly stabilize their management following heavy rainfall in regions including Gyeongsangnam-do.

Small businesses and micro-enterprises enrolled in the Yellow Umbrella mutual aid program who have suffered damage can immediately receive natural disaster mutual aid payouts upon submitting a "Disaster Damage Confirmation Certificate" or "Disaster-Stricken Small and Medium Enterprise Confirmation" issued by local governments.

Enrollees who obtain these documents are eligible to take out interest-free loans against their mutual aid installments, up to the lesser of their actual damage amount or 20 million won.

As of last month, Yellow Umbrella enrollees totaled 114,307 in Gyeongsangnam-do, 7,314 in Geoje, and 4,186 in Tongyeong.

Additionally, mutual aid fund subscribers can apply to defer their installment payments for six months, and loan interest rates will be reduced by 2 percentage points for affected businesses.

Enrollees wishing to apply for support can contact the Yellow Umbrella Customer Center (1666-9988) or the Mutual Aid Fund Customer Center (1668-3984).

Kim Ki-mun, Chairman of the Korea Federation of SMEs, said, "We hope this support will serve as a stepping stone for swift recovery and finding the hope to stand back up, and we will do our utmost to operate a prompt support system for disaster-stricken small business owners."