12 September 2019
We are on the ground in Russia for the next week covering the BRICS competition conference with enforcers and delegates from Brazil, Russia, India, China and South Africa. For now, Uber’s saga in Asia continues. This week the US technology giant said it would be stopping its food-delivery service in Korea on 14 October. The official reason was for failing to reach its expected performance standards, but digging below the surface shows a strange market. On the one hand, Seoul-based Baedal Minjok has about a 75% market share; on the other hand, a bunch of home-grown players are introducing new services. Yup, you read that correctly: Korea’s food delivery market looks both highly concentrated and highly competitive.