Republic of Korea: KFTC approves Delivery Hero's acquisition of Woowa Brothers subject to conditions

On 28 December 2020, the Korea Fair Trade Commission (KFTC) approved Delivery Hero's acquisition of Woowa Brothers subject to conditions. The KFTC determined that the acquisition would not significantly harm competition in the market, as there were several strong competitors in the food delivery industry in South Korea. However, the KFTC also ordered Delivery Hero to divest all shares in Delivery Hero Korea. Before the acquisition, Delivery Hero owned Delivery Hero Korea and Baedaltong, Korea's no. 2 and 3 food ordering apps. Woowa Brothers owned Baedal Minjok, Korea's most popular food ordering app.