South Korea: Hy to launch new food delivery app ‘Knowk’ next month.

South Korean retail company Hy is set to launch its new food delivery platform, Knowk, in June. This move marks Hy’s entry into the competitive food delivery market. The company is currently recruiting restaurant partners with the promise of taking care of business promotion, allowing owners to focus solely on food preparation.

Hy emphasizes its commitment to collaborating with local businesses, offering industry-low commission rates of 5.8% and eliminating fixed fees, advertising costs, and registration fees for its partners. Additionally, the app will offer free delivery services to customers without any minimum order requirements.

Leveraging its network of over 11,000 “Fresh Managers,” Hy aims to promote popular eateries through the Knowk app. This launch is part of Hy’s broader strategy to evolve into a comprehensive distribution company. Last April, Hy acquired a 66.7% stake in Meshkorea, operator of the Vroong delivery app, for $58.5 million. The acquisition is intended to integrate Meshkorea’s logistics system with Hy’s services, enhancing competitiveness and creating new business models through synergistic operations.


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