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◀ Anchor ▶
The merger between the nation of Delivery, the number one company in the domestic delivery app market, and Yogiyo, the second largest player, has been shattered.
The FTC asked Yogiyo to sell Yogiyo to take over the delivery nation to Delivery Heroes, Germany’s parent company.
Delivery Hero accepted the FTC’s decision and said it would sell Yogiyo.
Reporter Sejin Kim reports.
◀ Report ▶
In December last year, Delivery Hero, a German delivery app, announced that it would acquire an 88% stake in ‘Delivery Nation’, the number one delivery app in Korea.
If Delivery Hero, which already owns Yogiyo, the second and third largest in the market, takes over Baemin, the market share is 99.2%.
The monopoly controversy immediately arose.
After a year of reviewing the merger, the Fair Trade Commission concluded that the merger of the two companies would violate the interests of consumers and restaurant owners.
First, by looking at the correlation between market share and coupon issuance, it was confirmed that Baemin and Yogiyo used less coupons in regions where they had a relatively large advantage.
Furthermore, following the announcement of the merger at the end of last year, the discount amount of the two companies from January to August of this year decreased considerably compared to last year.
Faced with this situation, it was decided that if a real merger were carried out, the competition that had existed would disappear and, in the end, the benefits for the consumer would be considerably reduced.
[조성욱/공정거래위원장]“If the monopoly solidifies, our judgment is that the aspect of discount coupons for consumers will be greatly reduced …”
I saw that the burden of restaurant fees could also increase.
Since the dependency of the two companies is high, it will have to be accepted even if the fee is increased after the merger.
Consequently, the FTC made a conditional approval decision to sell Yogiyo within six months to acquire Baemin from Delivery Hero.
Delivery Hero said it would sell Yogiyo, saying it would accept the FTC’s decision, although it was regrettable.
This is Sejin Kim from MBC News.
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▷ Report from KakaoTalk @mbc
