FTC orders Delivery Hero to divest Korean unit

Delivery Hero decides to sell Korean unit
Posted : 2020-12-28 16:56
By Nam Hyun-woo
Fair Trade Commission (FTC) Chairwoman Joh Sung-wook speaks during a press conference on the conditional approval of Delivery Hero's acquisition of Woowa Brothers at the antitrust agency's headquarters in Sejong, Monday. Courtesy of FTC
Delivery Hero (DH), a German food delivery service firm, said Monday it will accept the Fair Trade Commission's (FTC) conditional approval for its acquisition of Korea's top food delivery app operator, Woowa Brothers which runs Baedal Minjok.
The FTC ordered DH to sell its Korean unit running the country's No. 2 food delivery app, Yogiyo, in order to but Woowa, as the antitrust agency feared the acquisition would "seriously harm" fair competition in the domestic food delivery market.

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