UberEats Korea launch imminent
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App-based ride service provider Uber Technologies says it is planning to launch its on-demand restaurant delivery service UberEats in South Korea.
UberEats Korea will partner with restaurants, with ordering conducted on the company’s web site or with a smartphone app.
“The company is preparing the local launch of UberEats,” said a spokesman for Uber Korea, the local unit of Uber, on the condition of anonymity. “But at the moment, we have not decided on the exact launch date.”
Industry sources expect the UberEats Korea delivery service to be introduced within the year.
UberEats Korea is expected to join other local delivery apps such as Yogiyo, FoodFly and Baedal Minjok. Baedal Minjok is the market leader with more than 50 per cent market share, followed by Yogiyo and Baedaltong, which are both owned by Germany-based Delivery Hero.
Ordering food by phone is commonplace in South Korea. However, delivery apps have become increasingly popular and now take up nearly 15 per cent of the total food delivery market which is estimated at around 12 trillion won (US$10.5 billion) annually.
UberEats was launched as a delivery pilot in Los Angeles in 2014. Since then, it has expanded to 58 cities. The service also exists in other major Asian cities including Bangkok, Tokyo and Taipei.
Questions & Answers
Q.What is the anticipated launch timeline for UberEats in South Korea?
What is the anticipated launch timeline for UberEats in South Korea?
Industry sources expect the UberEats Korea delivery service to be introduced within the current year. Uber Korea has not yet decided on the exact launch date for the service.
Q.Which companies are UberEats expected to compete with in the South Korean market?
Which companies are UberEats expected to compete with in the South Korean market?
UberEats Korea is expected to compete with local delivery apps such as Yogiyo, FoodFly, and Baedal Minjok. Baedal Minjok currently holds the largest market share in the sector.
Q.How large is the South Korean food delivery market that UberEats is entering?
How large is the South Korean food delivery market that UberEats is entering?
The total food delivery market in South Korea is estimated at around 12 trillion won annually, which equates to about US$10.5 billion. Delivery apps currently account for nearly 15 per cent of this market.
Q.Where else has UberEats launched its service in Asia?
Where else has UberEats launched its service in Asia?
UberEats has expanded to several other major Asian cities. These include Bangkok, Tokyo, and Taipei, where the service is already operational.
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