Mobile Meal Ticket Leader Bendise Changes Company Name to 'Hyundai Bendise'

Strengthening the Identity of Hyundai Department Store Group Affiliates

Vendys, acquired by Hyundai Department Store Group, has changed its company name to ‘Hyundai Vendys.’ This strategic decision aims to strengthen its identity as a group affiliate and enhance business competitiveness through expanded synergy among affiliates.

Vendys, the No. 1 mobile meal voucher company under Hyundai Department Store Group, announced on the 29th that it changed its name to Hyundai Vendys at a recent shareholders' meeting. Along with the name change, the newly introduced CI (Corporate Identity) will be applied to the company website and the ‘Sikgwon Daejang’ application operated by the company.

Previously, in November 2022, Hyundai Department Store Group acquired an 88.8% stake in Vendys for 37.1 billion KRW through Hyundai Easywell to expand its selective welfare business portfolio and secure future growth engines. Sikgwon Daejang, operated by Hyundai Vendys, is a welfare solution where client companies provide meal points to employees via an application, and employees use these points to pay for meals at partner restaurants, coffee shops, and other affiliated stores.

Celebrating its 10th anniversary this year, Hyundai Vendys has established itself as the leading mobile meal voucher company in Korea with over 4,300 client companies. It has also introduced new services such as the open welfare mall service ‘Bokji Daejang’ and the app banner advertising service for companies, ‘Gwanggo Daejang,’ achieving its first-ever profitable quarter in Q1 of this year since its founding.

With this name change, Hyundai Vendys plans to further enhance customer recognition and corporate trust, fully leveraging it for active sales activities. A Hyundai Vendys representative explained, “Typically, in the mobile meal voucher business, client companies pay partner stores monthly in arrears for employees’ meals, so the trustworthiness of the meal voucher operator greatly affects sales. Since joining the group, contracts with large corporate clients and mid-to-large franchise restaurants have significantly increased.”

Additionally, Hyundai Vendys plans to boost business competitiveness through collaboration with group affiliates in distribution, welfare, food, and healthcare sectors such as Hyundai Department Store, Hyundai Green Food, Hyundai Easywell, and Hyundai Bio Land. In fact, since March, Hyundai Vendys has been enabling the use of Sikgwon Daejang meal points at about 480 food and beverage outlets across nine stores in the Seoul metropolitan area, including Hyundai Department Store Trade Center Branch, Pangyo Branch, and The Hyundai Seoul, showing tangible results of collaboration.

A representative from Hyundai GF Holdings, the holding company of Hyundai Department Store Group, stated, “The level of employee welfare is increasingly impacting overall corporate business, including recruitment and work productivity. We will use this name change as a stepping stone for another leap forward and establish ourselves as a company providing diversified welfare solutions, including mobile meal voucher services, based on synergy with group affiliates.”

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