SEOUL, June 21 (Reuters) - YouTube will launch its first official shopping channel for live commerce in South Korea on June 30, Yonhap news agency reported on Wednesday.
It is YouTube's first official shopping channel in any country, Yonhap said.
"We may experiment with a variety of YouTube Shopping features from time to time," a YouTube spokesperson said, without elaborating.
Shares in Naver fell 4% on Wednesday morning, while retailer Lotte Shopping (023530.KS) fell 3.3%, versus the wider market's (.KS11) 0.5% drop.
South Korea's live commerce market is projected to grow to 10 trillion won ($7.7 billion) this year from 2.8 trillion won in 2021, with Naver currently holding about 60% market share, according to Kyobo Securities.
Persons:
Yonhap, Philipp Schindler, Naver, 1,291.1600, Joyce Lee, Stephen Coates
Organizations:
YouTube, South, Lotte, Kyobo Securities, Thomson
Locations:
SEOUL, South Korea, Naver, KS, Lincoln