In 2021, the transaction value of food and beverage sales made through mobile devices exceeded 18 trillion South Korean won. Mobile apps in particular were a popular method of ordering food delivery. The most popular domestic food delivery app, Baedal Minjok (also known as Baemin) had over 20.7 million users as of December 2021. Its main competitor, Yogiyo, had over nine million users. As of March 2021, both Baemin and Yogiyo were owned by German multinational online food delivery service Delivery hero, giving the company a significant foothold in the South Korean food delivery market.
The impact of COVID-19 on South Korea’s food delivery industry
The food delivery industry has seen a sales increase since the beginning of the coronavirus (COVID-19) pandemic. Being able to order and receive food at home without having to buy ingredients and cook or come in contact with other people proved to be a popular business model during this time. While this model of food delivery predates the pandemic, innovations were still made to further decrease human contact. From contactless delivery to Coupang Eats’ “one order, one delivery” system, the increased need and demand for ever more convenient food delivery services in South Korea continues to drive the industry.
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