Fair Trade Commission "Sell Yogiyo if You Want to Acquire Baemin" Conditional Approval Policy

[Asia Economy Reporter Moon Chaeseok] The Fair Trade Commission has conditionally approved Delivery Hero (DH), a German operator of Yogiyo and Baedaltong, to acquire Woowa Brothers, the operator of Baedal Minjok, on the condition that DH divests Yogiyo.

According to DH on the 16th, the Fair Trade Commission attached the condition that DH must sell Yogiyo as a prerequisite for approving DH's acquisition of Woowa Brothers.

This measure was taken due to concerns that the merger of the two companies would create a monopolistic and dominant operator with a market share reaching 99%, increasing pressure to raise delivery fees and other prices.

Earlier, DH reported the corporate merger to the Fair Trade Commission in December last year to acquire Woowa Brothers.

The Fair Trade Commission recently sent DH a review report stating conditional approval of the merger of the two companies.

The Fair Trade Commission plans to hold a plenary meeting as early as the 9th of next month to make a final decision on the approval conditions for the corporate merger.

DH stated, "We are in the middle of the merger review process, and since the plenary meeting is still pending, we need to wait and see," adding, "We believe we can resolve this through good discussions with the Fair Trade Commission."

This content was produced with the assistance of AI translation services.