SEOUL, April 12 (Korea Bizwire) — Food delivery app owner Woowa Brothers saw its sales nearly double in 2021 from a year earlier as the prolonged COVID-19 pandemic pushed up demand for food deliveries. Woowa Brothers posted 2.008 trillion won (US$1.62 billion) in sales on a consolidated basis last year from 1.033 trillion won a [...]
SEOUL, July 22 (Korea Bizwire) — South Korea’s antitrust regulator said Thursday it extended the deadline for the sale of Delivery Hero’s food delivery affiliate here, Yogiyo, until Jan. 2 next year, as the German company is facing difficulty in finding a potential investor. In December last year, the Korea Fair Trade Commission (KFTC) ordered [...]
SEOUL, June 30 (Korea Bizwire) — South Korea’s top two retailers — Shinsegae Group and Lotte Group — have not joined the race to take over Yogiyo, the country’s second-largest food delivery app, industry sources said Wednesday. The rivaling retail giants had been considered the two most viable potential bidders for Yogiyo, run by Germany’s [...]
SEOUL, March 30 (Korea Bizwire) — South Korea’s top food delivery app Baedal Minjok, or Baemin, saw its sales nearly double in 2020 from a year earlier amid the coronavirus pandemic, its operator said Tuesday. Baemin’s top line stood at 1.09 trillion won (US$960 million) last year, up 94.4 percent from a year earlier, according [...]
SEOUL, July 23 (Korea Bizwire) — South Korea’s food delivery app market has turned into a money game, putting the market leader Baedal Minjok – typically referred to as Baemin – in a crisis code. To expand their presence in the rapidly growing food delivery app market, latecomers, armed with abundant capital, are chasing the [...]
SEOUL, April 7 (Korea Bizwire) – The pending merger between the nation’s number one food delivery app Baedal Minjok (Baemin), and Yogiyo, the industry’s second largest player, has led to a growing negative public sentiment with widespread concerns about monopolistic behavior. In particular, recent changes to Baemin’s fee system from a flat rate to a [...]
SEOUL, March 20 (Korea Bizwire) — Woowa Brothers Corp., South Korea’s top food delivery app operator, said Friday it swung to an operating loss in 2019 despite a jump in sales. Its operating losses stood at 36.4 billion won (US$29.2 million) last year, a sharp turnaround from operating gains of 52.5 billion won a year [...]
SEOUL, Dec. 19 (Korea Bizwire) — Germany-based online delivery service provider Delivery Hero is forecast to take control of South Korea’s food delivery app market following its proposed megadeal to buy the country’s top food delivery app operator, Woowa Brothers Corp., industry data showed Thursday. On Friday, Delivery Hero announced that it will acquire an [...]
SEOUL, Dec. 13 (Korea Bizwire) — Germany-based company Delivery Hero has agreed to buy South Korea’s top food delivery app operator, Woowa Brothers Corp., for US$4 billion, industry officials said Friday. The German firm, which also has second-biggest delivery player Yogiyo under its wing, will acquire an 87 percent stake in Woowa Borthers, operators of [...]
SEOUL, Sept. 5 (Korea Bizwire) — U.S. food delivery app Uber Eats said Wednesday that it has signed a partnership with South Korean food service company CJ Foodville in the latest move to boost its presence in the country’s growing food delivery market. Uber Eats said major CJ Foodville brands, such as VIPS, Cheiljemyunso, The [...]