The government denied the merger of the people of Bae Yi and Yogi-yo. When the two platforms are combined, there is a high concern that customer fees will increase, and it is judged that it is difficult to find a different alternative for both food service providers and consumers.
The Fair Trade Commission announced on the 28th that it has decided to approve the M&A case of acquiring 88% of the stocks of the graceful brothers who run the Nation of Delivery, subject to the sale of Yogiyo.
Earlier, Graceful Brothers and Delivery Hero announced their merger and acquisition plans in December of last year, and decided to establish a joint venture, Hua DH Asia, in Singapore with a 50-50 stake. With this conditional approval decision, Delivery Hero has three options: either selling Yogiyo according to an order from the Fair Trade Commission, paying more than hundreds of billions of billions of won or more, or giving up the combination. You may want to ask for a reconsideration and look at the number of people expecting a change in the situation in the long run, but the decision is unlikely to be reversed.
The FTC judged that the combination of the two company dogs was an overwhelming monopoly. The total market share in the delivery app market was 99.2% based on the transaction amount of the previous year, which was the No. 1 business operator, and the gap with the No. 2 Kakao ordering amount reached more than 25%p. It is a presumed position.
Even if fees are raised due to such monopoly, the possibility of self-employed people leaving is minimal. Fair Trade Commissioner Cho Sung-wook explained, “As a result of evacuation simulation analysis, restaurant churn rate is less than 1% when the fee is raised.”
Chairman Cho said, “We will do our best to realize an online fair economy by establishing an institutional foundation such as the enactment of the Online Platform Fairness Act and the full revision of the Electronic Commerce Act.”
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