South Korea’s Fair Trade Commission (KFTC) has officially commenced a voluntary preliminary merger review regarding Uber Technologies’ proposed acquisition of all outstanding shares in Germany-based Delivery Hero SE. The application was formally submitted by the U.S. mobility company on September 22, launching a proactive regulatory evaluation ahead of a global tender offer expected to conclude in the second half of 2027.
Because Delivery Hero holds controlling ownership of Woowa Brothers, the transaction would transfer direct management control of Baedal Minjok—South Korea’s dominant food delivery platform—to Uber. Baedal Minjok leads the domestic food delivery market with approximately 23.4 million monthly active users, well ahead of rivals Coupang Eats and Yogiyo. Simultaneously, Uber operates Uber Taxi in South Korea, holding the second-largest position in the ride-hailing sector behind market leader Kakao Mobility.
The KFTC categorizes the transaction as a hybrid platform merger, bridging ride-hailing and food delivery ecosystems. Regulators plan to thoroughly evaluate how combining Uber’s mobility capabilities with Baedal Minjok’s delivery leadership could affect market dynamics. Core areas of focus include potential cross-platform synergies, joint membership programs, bundled promotions, and cross-platform advertising tools for merchant partners.
Antitrust officials stated that the review will strictly assess whether the combined entity could distort competition in either market, limit consumer choices, or impose disadvantageous terms on vendors and drivers. The KFTC will examine the transaction under standard Fair Trade Act guidelines while coordinate with international competition authorities conducting parallel reviews.
