According to Yonhap News,

(SEOUL=Yonhap News) A South Korean food delivery app said Thursday it has attracted a 40 billion won (US$36.31 million) investment from U.S. financial firm Goldman Sachs as it pushes to expand business overseas.

"With the investment, we can now strengthen our standing in the industry and put our overseas expansion into full swing," said Kim Bong-jin, the founder of the app "Baedal Minjok," which roughly translates to "Delivery Nation" in English.

Kim's app, available on Android and iOS operating systems, is currently No. 1 in such services with more than 14 million downloads made as of mid-October. First distributed in 2010, the app provides users with services similar to the likes of U.S. counterpart GrubHub Food Delivery & Takeout.

The app has already laid eyes on overseas markets, as it joined hands with Line Corp., the Tokyo-based affiliate of South Korean portal operator Naver Corp., and launched another delivery service called "Line Wow" earlier last month.

yjkim8826@yna.co.kr

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Source: Yonhap News (November. 27, 2014)