Naver has decided not to acquire a stake in Baedal Minjok after Uber shifted from pursuing the South Korean food-delivery platform to acquiring its parent, Delivery Hero. In a public disclosure on Sept. 17, Naver said changes in the business environment and other factors led it to end the review. Naver and Uber had reportedly considered a consortium bid of up to $6.15 billion, with the stake divided in a 2-to-8 ratio. Uber agreed in July to acquire 100% of Delivery Hero for $14.8 billion, at €41.5 per share in cash. The transaction, which includes Baedal Minjok’s operator Woowa Brothers, is expected to close in the second half of 2027 after competition reviews, including scrutiny by South Korea’s Korea Fair Trade Commission. The deal would give Uber control of South Korea’s leading delivery app and support its plan to build a local mobility ecosystem spanning ride-hailing and delivery.