‘YGMM’ when GMM and YG Entertainment Hand in hand to move forward in the entertainment business

Another shift in media business like GMM to form a joint venture company with YG Entertainment. South Korean entertainment giants set up YGMM to provide advice on organizing concerts. Theater and events Through an investment of 200 million baht and GMM will hold a stake of 51%: 49%.

This story was disclosed from Khun Kanokporn Sanawattana, Chief Financial Officer of GMM Grammy Public Company Limited, who informed the Stock Exchange of Thailand that it had established a joint venture company with the Company. YG Entertainment Inc. to add to the entertainment business is considered to expand opportunities for growth in Thailand and Korea.

Because of YG Entertainment It is considered to be a company that specializes in the development of many leading artists such as BigBang, BlackPink, Winner, iKON, as well as great performers like Cha Seoung Won, Choi Ji Woo, Jang Ki Yong, among others. Can be said to cover all kinds of entertainment media business

However, this partnership announcement Will be the registered capital of the joint venture company valued at 200 million baht, divided into 2 million ordinary shares, par value of 100 baht, with paid-up capital of 100.05 million shares, divided into 2 million ordinary shares at 50.025 baht per share. Grammy will be the main shareholder with 51 percent, and YG with 49 percent.

YG Entertainment It has been in business since 1996, but became more famous in 2003 for sending artists like Se7en to overseas markets. The image of the company is to create a rap, R&B, underground music genre. The well-known artists of that era were Se7en, Bigbang, Gummy and performed many leading shows. Before being successful in many foreign countries It has been doing business covering concerts, music, e-commerce, and many other small businesses until now.

Despite the large national lawsuit in the case of artists in the camp That affected the company’s shares to plummet during the year 2018 until 2020, together with the COVID-19. But after the lawsuit was sentenced and found that YG artists were not guilty. The image of businesses and stocks has revived again. And the announcement of this partnership will increase YG’s share value by 1.94%.

We have to wait and see if this collaboration will help YG to open up business in Thailand as strong as its competitors or not. Because before this, YG has attempted to enter into many sub-sectors in Thailand. Both entering the selection of trainee artists Doing entertainment business Open a restaurant But always have to keep the luggage home

YG followers are hoping that this collaboration will increase the opportunities for Korean artists to collaborate with artists in Thailand. To expand opportunities to the global market together

Origin: YGFamily, YG Artist Global, Allkpop, Business Nation