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  • One of the best things about living in Korea is that a wide range of delicious food is

  • only a phonecall away. Mobile applications are also jumping into

  • the food delivery market, and business is booming.

  • Connie Kim reports. Food menus meet with Internet technology.

  • This is the concept a growing number of people are embracing in Korea, including 36-year-old

  • Lim Hyun-woo. Returning from work after a long day, Lim

  • opens a food delivery application on his smartphone and scrolls down to decide what he wants to

  • eat.

  • "I live alone, so I usually order from food delivery applications. There is a lot more

  • variety to choose from and I don't have to worry about losing menus."

  • These types of food delivery application companies have created a profitable business model.

  • They receive around 13 percent of every order in commission fees from participating restaurants.

  • It's another way of tapping into the prospering food delivery market that is estimated at

  • around 9-point-7 billion U.S. dollars and growing at an annual rate of more than 20

  • percent.

  • "The payment systems on smartphones have given direct access to hundreds of restaurants helping

  • the food delivery application market grow at a fast pace."

  • The love for delivery comes from the national character of Koreans, who prefer things fast,

  • faster and fastest... which puts a premium on convenience.

  • The rising demand has made the market a competitive one, with food delivery application companies

  • battling it out for a bigger piece of the pie.

  • In two years, experts say around one-third of the total delivery industry will be transferred

  • to the online and mobile delivery market.

  • New competitors are now looking to jump in. One social commerce company has been selling

  • discount coupons of up to 30 percent for shoppers since February.

  • Offering more options for a wider array of palates,... in a convenient manner:... it's

  • a combination that's sure to continue enticing consumers to open their wallets... and their

  • front doors to food deliverymen. Connie Kim, Arirang News.

One of the best things about living in Korea is that a wide range of delicious food is

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B1 food delivery delivery market application lim connie

Mobile food delivery market prospering in Korea

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    richardwang posted on 2014/05/02
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