A video system for minimizing streaming latency is disclosed. The video system includes an encoder having a data input part receiving external streaming video data, a data conversion part converting the external streaming video data to output converted video data, a first buffer receiving the converted video data, a data measurement part measuring size of the converted video data and conversion time spent for converting the streaming data, and a latency determination part comparing the size and the conversion time, respectively, to a reference size and a reference time to determine latency; and a decoder having a second buffer receiving the converted video data from the first buffer. The latency determination part transmitting the determined result to the data input part and the data input part outputs a latest streaming video data in response to determination that the first buffer or second buffer will be in underflow.