- Benefit
- Monthly contribution KRW 50,000-1,000,000. Income deduction = the lesser of annual contributions and the limit by income bracket (business income KRW 40,000,000 or below: KRW 6,000,000 / KRW 60,000,000 or below: KRW 5,000,000 / KRW 100,000,000 or below: KRW 4,000,000 / over KRW 100,000,000: KRW 2,000,000; Restriction of Special Taxation Act Article 86-3; real estate rental income excluded). Corporate representatives: total salary of KRW 80,000,000 or below. The benefit is paid upon business closure, death, retirement of a corporate representative due to illness, age 60 with 120 months of contributions, disaster, 6 months of medical care, or rehabilitation/bankruptcy.
- Who is eligible
- Representatives of small enterprises and small businesses (sole proprietors and corporate representatives). Duplicate enrollment not allowed; check with the Korea Federation of SMEs for excluded industries and detailed requirements
- When to apply
- Enroll any time · income deduction applies to contributions through 12/31, reflected when filing comprehensive income tax (May)
- How to apply
- Noranumbrella website (www.8899.or.kr) · Korea Federation of SMEs (중소기업중앙회) regional offices · partner financial institutions · 1666-9988
- Important notes
- The extinctive prescription for unclaimed benefits was extended from 3 to 5 years (effective 2026.6.3); benefits already expired can also be claimed for 5 years from 2026.6.3 — checking for unclaimed benefits is recommended.
- Note
- The limit was raised for contributions from 2025.1.1. Benefits are taxed as retirement income; early cancellation without a qualifying reason is taxed as other income. Re-enrollment is not possible for 1 year after cancellation, including cancellation after 12 months of unpaid contributions. Local governments separately offer enrollment incentives.
Based on official sources as of 2026년 10월. Amounts and requirements may change, so please confirm with the official guide before applying.