□ The Korean institution exclusively responsible for international cultural exchange and the nation’s
representative content provider have joined hands to nurture an environment for sustainable Hallyu
development and to disseminate “Good Hallyu” through two-way exchange of culture and overseas
activities for social contribution.

□ The Korean Foundation for International Cultural Exchange (KOFICE), designated on February 7,
2018, as the Ministry of Culture, Sports and Tourism’s exclusive center for international cultural
exchange, and CJ E&M signed a memorandum of understanding on March 7, 2018, for the social
contribution business “Good Hallyu.” KOFICE President Kim Yongrak and Shin Hyung-kwan, CJ
E&M Music Contents Director, represented their respective organizations at the signing ceremony
held at the CJ E&M Center in Sangam-dong, Seoul.

□ The MOU aims at developing overseas social contribution programs in connection with KCON and
MAMA, which are global cultural events conducted by CJ E&M, and active development of
governmental and private cultural exchange programs to expand the scope of international cultural
exchange. The MOU will be instrumental in utilizing KOFICE’s international cooperation know-how
and CJ E&M's cultural business capabilities to the effect of energizing cultural exchange with other
countries on a reciprocal basis and in spreading “Good Hallyu” through social contribution programs
abroad.

□ Announcing its five-year national management plan last year, the government proposed a 6 percent
increase of Hallyu exports as part of its strategic state tasks package related to the Korean Wave and
revealed that it would expand export of cultural contents and advancement of related industries into
foreign countries by promoting two-way exchange and realization of “Good Hallyu.” On the basis of
their international cultural exchange know-how and overseas social contribution businesses as well as
the MOU, KOFICE and CJ E&M will continuously seek successful models of governmental-private
cooperation linking policy support with the private sector’s social contribution activities.

□ To this end, KOFICE will invite social enterprises in Japan to the comprehensive Hallyu convention
KCON 2018 Japan to be held in April and support their opening of booths. By so doing, KOFICE
plans to show its keen interest in such issues as young people’s entry into society and cooperative
growth, which are issues that also have been challenging Korea.

□ KOFICE President Kim Yongrak said, “With this MOU, we will invigorate international cultural
exchange through cooperation between the government and the private sector and create a sustainable
Hallyu ecosystem by forming a favorable image of Korea and contribute to expanding the scope of
responsible social activities of corporations.”

□ Kim Min-gyu, in charge of CJ E&M Strategic Support, said, “Hallyu is no longer a trend but a
cultural code of social influence. Under CJ’s management philosophy of Creating Shared Value
(CSV), we will pay attention to the socio-economic ecosystem of local communities abroad and carry
out, using Hallyu as a medium, mutually beneficial activities unlimited by national borders.”