GMM Grammy Public Company Limited informed about the establishment of Joint Venture between the Company and YG Entertainment Inc. Name of subsidiary: YGMM Co. Ltd. The Board of Directors consists of 6 directors, which 3 directors shall be appointed by the nomination of GRAMMY and 3 directors shall be appointed by the nomination of YG. respectively, namely; 1. Mr. Fahmai Damrongchaitham; 2. Mr. Phawit Chitrakorn; 3. Mrs. Kanokporn Sanawatana; 4. Mr. Jonghyun Kah; 5. Mr. Jooyong Lee; 6. Miss Jihyun Kim.