Baedal Minjok

This article has multiple issues. Please help or discuss these issues on the talk page. (Learn how and when to remove these template messages) This article reads like a press release or a news article and is largely based on routine coverage or sensationalism. Please with properly sourced content to meet Wikipedia's quality standards, event notability guideline, or encyclopedic content policy. (April 2021) A major contributor to this article appears to have a close connection with its subject. It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. Please discuss further on the talk page. (April 2021) (Learn how and when to remove this template message) The topic of this article may not meet Wikipedia's notability guidelines for companies and organizations. Please help to demonstrate the notability of the topic by citing reliable secondary sources that are independent of the topic and provide significant coverage of it beyond a mere trivial mention. If notability cannot be shown, the article is likely to be merged, redirected, or deleted. Find sources:  –  ·  ·  · scholar · JSTOR (April 2021) (Learn how and when to remove this template message) (Learn how and when to remove this template message)

Baedal Minjok is a South Korean food delivery unicorn startup. Baedal Minjok is owned by Woowa Brothers Corp.^[1] The company's revenue in 2020 was KRW 1.09 Trillion (US$960 Million).^[2] In March 2021, Woowa Brothers Corp. and the Baedal Minjok brand were acquired by Delivery Hero.

Baedal Minjok is the largest food delivery application in South Korea.^[1] The South Korean delivery market is one of the largest in the world, worth US$8.6 billion in 2019.^[3] In the single month of August 2020, the industry recorded US$1.05 billion of sales.^[4]

On April 12, 2021, Baedal Minjok announced the launch of a new product of Baedal Minjok, 'Baemin 1 (one)' for self-employed people.^[5]

Company history[]

Baedal Minjok was created in 2010 by founder .^[6] Kim sought to create a service for restaurants to advertise on, and began by scanning restaurant flyers which he found on the ground of Gangnam, Seoul.^[6] Kim created the Baedal Minjok platform to earn a commission on orders which were placed through the application. In the early days of operation, the company founders met and worked in a Cafe in Seoul, rather than in an office.^[7]

The company received US$35.6 million of investment from Goldman Sachs in 2014, and a further investment of US$320 million of investment in 2018.^[1] The company was valued at KRW 1 trillion in 2015, and by 2018 it was valued at KRW 5 trillion.^[2]

In June 2019, Baedal Minjok began operations in Vietnam starting from Ho Chi Minh City."Korea's food delivery app Baedal Minjok available in Vietnam from June - Pulse by Maeil Business News Korea". pulsenews.co.kr (in Korean). Retrieved 2021-03-30.^[8]

In December 2019, the company entered acquisition discussions with German delivery company Delivery Hero, as the German firm sought to acquire an 87% stake in the company.^[9][3] Delivery Hero already owned South Korean competitors Yogiyo and Baedaltong.^[9] The deal faced pushback from the Korea Fair Trade Commission on anti-trust grounds.^[3] The proposed acquisition would give Delivery Hero a 97% market share of the South Korean delivery market.^[10] In December 2020, the Korea Fair Trade Commission announced that the US$4 billion was approved on the condition that Delivery Hero sell its Korean subsidiary, Yogiyo.^[2][11][12]

Free Font Distribution[]

Font link

In 2012, the company distributed 'Baedal Minjok Hannah font.'

In 2014, the company distributed 'Baedal Minjok Zua font.'

In 2015, the company distributed 'Baedal Minjok Hannah is eleven font.'

In 2016, the company distributed 'Baedal Minjok Do Hyun font.'

In 2017, the company distributed 'Baedal Minjok Yeon Sung font.'

In 2012, the company distributed 'Baedal Minjok Girang Haerang font.'

In 2018, the company distributed 'Baedal Minjok Hannah font Air'^[13]

In 2018, the company distributed 'Baedal Minjok Hannah font Pro'^[13]

In 2019, the company distributed 'Baedal Minjok Euljiro font'^[13]

In 2019, the company distributed 'Baemin Euljiro 10 years later font'^[13]

Controversy[]

In early 2020, Baedal Minjok was criticized for a new pricing strategy which charged restaurants using its platform a 5.8% fixed-rate fee.^[14] This practice was criticized for elevating large chain restaurants while putting smaller restaurants at a disadvantage. Lee Jae-Myung, the governor of Gyeonggi-Do (Korea's largest province) called the price strategy 'tyranny'.^[14] Baedal Minjok reversed this new pricing scheme in May of that year.^[15]

Baedal Minjok faced controversy over the introduction of their 'flash delivery' service in March 2021. Baedal Minjok freelance delivery drivers claimed that their wages were negatively impacted by the new service.^[16]

Companies such as Baedal Minjok, Delivery Container, Yogiyo, Delivery 365, Menu Box, and Delivery O were caught by while hiding complaints and manipulating reviews of compliments. In Baedal Mijok application, 14,057 complaints were reviewed privately, with a fine of 17.5 million won being imposed along with corrective action.^[17]

Baemin Trend[]

According to the Baemin Trend 2021 report released by the Baedal Minjok itself, orders have changed with the times and trends.^[18]

• Untact consumption increased due to Covid-19: Due to social distancing, the rate of dining out has decreased, and food is often delivered to homes or offices.
• Orders considering 'value consumption': As the consumption culture that considers eco-friendly issues expands, more and more customers are not receiving unnecessary disposable products or ordering only enough to eat.

References[]