◀ Anchor ▶
The merger between the nation of Delivery, the No. 1 company in the domestic delivery app market, and Yogiyo, the second-largest player, has been broken.
The FTC asked Yogiyo to sell Yogiyo to take over the nation of delivery to Delivery Heroes, Germany’s parent company.
Delivery Hero accepted the FTC decision and said it would sell Yogiyo.
Reporter Sejin Kim reports.
◀ Report ▶
In December of 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, who already owns Yogiyo, the second and third largest in the market, takes over Baemin, the market share is 99.2%.
Immediately, the monopoly controversy arose.
After a year of merger review, the FTC concluded that the merger of the two companies would violate the interests of consumers and restaurant owners.
First of all, 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.
In addition, after 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 from last year.
In this situation, it was decided that if an actual merger was carried out, the competition that had existed would disappear, and in the end, consumer benefits would be greatly reduced.
[조성욱/공정거래위원장]
“If the monopoly is solidified, our judgment is that the aspect of coupon discounts for consumers will be greatly reduced….”
I saw that the restaurant’s fee burden could also increase.
Since the dependence on the two companies is high, it will have to be accepted even if the fee is raised after the merger.
Accordingly, the FTC made a conditional approval decision to sell Yogiyo within six months to acquire Baemin to Delivery Hero.
Delivery Hero said that he would sell Yogiyo, saying that he would accept the FTC decision, though he was sorry.
This is Sejin Kim of MBC News.
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