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The Saigon Times

Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After three decades of development, we have built a good reputation through our publications on economy, business and markets for Vietnamese and foreign readers.

Basic

Free

  • Free access to daily domestic news, podcasts and videos

Premium

$5 $1 /month
(VND 23,900)
Monthly Annual

  • Unlimited access to domestic news, podcasts, videos and magazine articles on current social / economic / trade / investment issues, commodity / financial/securities markets, M&A activity, FDI, local and foreign business communities and more.

AUTOMATIC RENEWAL REMINDER

  • Your payment method will then be automatically charged ₫ 899.000 every 365 days thereafter.
  • Your subscription will continue until you cancel.
  • You can cancel by using My account. Under My account, select "Unsubscribe" and then follow the instructions to cancel.
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Ho Chi Minh City
Sunday, June 1, 2025

Baemin ceases Vietnam operations

The Saigon Times

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HCMC – Baemin, one of South Korea’s major food delivery service providers, has announced the closure of its Vietnam operations, with effect from December 8 this year. This marks the end of Baemin’s four-year presence in the domestic market.

Baemin entered Vietnam in mid-2019 following its acquisition of the food delivery app Vietnammm. The company had been gradually scaling down its operations in Vietnam over the past three months, discontinuing services in certain localities such as Hoi An City, and Thai Nguyen, and Bac Ninh provinces.

Woowa Brothers Vietnam, a subsidiary of Woowa Brothers – South Korea’s leading food delivery service provider), and Delivery Hero – a technology corporation offering food delivery services in over 50 countries, jointly operate Baemin in Vietnam. Beyond food delivery, Baemin also provides other services like grocery assistance, online grocery stores, and cosmetics sales.

According to Statista, a market research company, Baemin held a 12% market share in the Vietnamese food delivery industry last year. This share is way below Grab’s 45% and ShopeeFood’s 41%.

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