April 20, 2024

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South Korean e-commerce company WeMakePrice will start operating a food delivery platform from April, according to sources on March 22.

The company aims to take around 5 percent sales as commission, which is lower than the 7 percent charged by top operator Woowa Brothers. Advertising fees will be charged separately.

 

The e-commerce company will also allow customers to place their orders through its app and pick up their food.

Currently, the leading food delivery app in Korea’s 15 trillion won market is Woowa Brothers’ Baedal Minjok, which accounts for around 55.7 percent market share, followed by RGP Korea’s YoGiYo and Baedaltong, which have 33.5 and 10.8 percent, respectively.

Another local e-commerce company, Coupang, also announced in November last year that it is preparing to launch a food delivery service call “CoupangEats” during the first half of this year.

Coupang -- well known for its one-day rocket delivery services -- is planning to deliver within 30 minutes after orders are placed. The company is looking to take around 20 percent of the sales as commission fee, which is relatively high compared to competitors.

By Song Seung-hyun (ssh@heraldcorp.com)