Uber seeks South Korean antitrust clearance for full purchase of Delivery Hero stake
Uber Technologies has filed an application with South Korea's Fair Trade Commission to obtain approval for acquiring a controlling stake in Delivery Hero SE, the owner of Woowa Brothers and its Baemin delivery platform.
Uber Technologies Inc. has formally applied to South Korea's Fair Trade Commission for clearance to acquire a complete stake in Delivery Hero SE. Delivery Hero, a German holding company, controls Woowa Brothers Corp., the operator of Baedal Minjok, popularly known as Baemin, South Korea's top food-delivery application. By seeking a full ownership position, Uber aims to expand its footprint in the competitive Asian delivery sector.
The Korean antitrust authority will now evaluate the deal for potential impacts on market competition. No decision has been announced, and the process will determine whether the transaction can proceed under local competition law.
Why it matters
The approval will shape Uber's expansion into Asia's fast-growing food-delivery market and affect competition in South Korea.
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