Baedal Minjok's Retry... Returning to the Japanese Market After 5 Years

Delivery Service Named 'Foodneko'... Local Demand Expected to Rise Due to COVID-19

[Asia Economy Reporter Kim Cheol-hyun] Woowa Brothers, the operator of Baedal Minjok (Baemin), the No.1 delivery application in Korea, has made a challenge to the Japanese market again after 5 years.

On the 20th, Woowa Brothers announced that they are preparing to launch a delivery app service in Japan next month. To enter the Japanese market, Woowa Brothers have increased app developers and marketing personnel, and are also recruiting riders (delivery workers) locally.

The name of the delivery service in Japan is 'Foodneko.' It combines Food and Neko (cat in Japanese), and the business character is reportedly set as a 'cat.'

This attempt by Woowa Brothers to enter the Japanese market draws attention as it is a re-challenge after 5 years. Previously, Woowa Brothers entered the Japanese delivery app market in 2014 together with Line. However, since the Japanese delivery app market did not grow as fast as expected, they withdrew in the second half of 2015 after about a year.

However, with the recent rapid growth of contactless-related markets in Japan due to the spread of COVID-19, they judged the business potential to be sufficient and decided to re-enter. Industry experts expect Baemin to compete in the Japanese delivery app market against Japan's largest delivery company 'Demaekan (Delivery Kan),' acquired by Naver, and global companies like Uber Eats.

In June last year, Woowa Brothers also entered the Vietnamese delivery app market and achieved remarkable results, ranking 2nd in the delivery app rankings in the Hanoi area. Woowa Brothers are expected to target the Japanese market based on the successful know-how accumulated in overseas markets such as Vietnam.