Yonhap reported that YouTube will launch its first live commerce channel in South Korea on June 30.
As the Alphabet-owned (GOOGL.O) company focuses on becoming more “shoppable,” South Korea’s Naver (035420. KS)-led live-streaming commerce business is a perfect test market.
The 90-day Korean-language channel will launch. According to Yonhap and other Korean media, it will first offer corporations a live-commerce platform and live-stream shopping content from roughly 30 brands.
Yonhap reported it’s YouTube’s first official retail channel in any country.
YouTube Korea was silent.
In February, Google’s Chief Business Officer Philipp Schindler claimed “lots of potential in making it easier for people to shop from the creators, brands and content they love” as advertisers cut spending and TikTok competed with YouTube.
Naver sank 4% on Wednesday morning, while Lotte Shopping (023530. KS) fell 3.3%. The market (.KS11) fell 0.5%.
Kyobo Securities expects South Korea’s live commerce market to rise to 10 trillion won ($7.7 billion) this year from 2.8 trillion won in 2021, with Naver having a 60% market share.
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