Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen Xiao Zhan for the clue delivery! CTOnews.com June 21, according to Yonhap news agency, YouTube will launch its first official shopping channel in South Korea on June 30, launching a new attempt at live e-commerce. South Korea already has a booming live e-commerce market led by technology giant Naver, which makes it an ideal test market for YouTube, which will be YouTube's first official shopping channel around the world.

The new channel will use Korean as the main language, and according to YouTube, more than 30 brands, including Samsung Electronics, LG Electronics, Basrowski, Donndole, Dyke and Puma, will carry goods live on the YouTube shopping channel. The project was originally planned to operate for 90 days, but it may be extended.

As YouTube's advertising revenue is affected by spending cuts by advertisers and competition from platforms such as TikTok, Philipp Schindler, Google's chief business officer, said in February that there was "great potential" to make it easier for people to shop from their favorite creators, brands and content.

On Wednesday morning, Naver shares fell 4 per cent, retailer Rakuten Shopping fell 3.3 per cent, and the market as a whole fell 0.5 per cent. According to Beijing Platinum Securities, South Korea's live e-commerce market will grow from 2.8 trillion won (CTOnews.com Note: currently about 15.624 billion yuan) to 10 trillion won (currently about 55.8 billion yuan) this year, with Naver accounting for about 60 percent of the market.

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