Delayed food deliveries and damage to food on the way to the homes of customers will soon be cause for compensation claims.
A consortium led by GS Retail will acquire a 100 percent stake in Delivery Hero Korea, operator of Korea’s second largest food delivery platform Yogiyo.
The Fair Trade Commission on Thursday said it would extend the deadline on the sale of Yogiyo to Jan. 2 as current circumstances made it difficult to meet the initial deadline of Aug. 2.
Coupang Eats, a food delivery service provider, started a quick commerce service that aims to deliver products within 15 minutes of the order being made.
Delivery Hero is shutting Baedaltong, a food delivery service, next month.
Woowa Brothers, which operates the Baedal Minjok delivery app, says its customers are becoming more environmentally conscious.
Koreans spent at least 12.2 trillion won ($11 billion) ordering food via delivery apps last year, according to estimates by WiseApp and Wise Retail.
It was a long road for Delivery Hero in its acquisition of Woowa Brothers, which runs Korea's most popular food delivery app.
Delivery Hero will have to divest itself of Yogiyo, the Fair Trade Commission (FTC) ruled in approving the German company’s acquisition of Baedal Minjok, ending the possibility that a monopoly will exist in the food delivery business
The Fair Trade Commission (FTC) Monday issued conditional approval for the acquisition of Baedal Minjok by Berlin’s Delivery Hero, but only if it sells off Yogiyo first.