Big 4 K-Pop Agencies Partner to Launch Global Culture Festivals

The four major South Korean entertainment companies — HYBE, SM Entertainment, JYP Entertainment, and YG Entertainment — are advancing plans to form a joint venture aimed at launching a global music festival under the working title “FANOMENON,” according to multiple verified reports from Korean media outlets.

The initiative, first introduced by JYP Entertainment founder Park Jin-young in October 2025 during the inauguration of the Presidential Committee for Popular Culture Exchange, combines the words “fan” and “phenomenon” to reflect the growing influence of fandoms in the global music economy. Park, who serves as co-chair of the committee, outlined a vision to launch the festival in South Korea by December 2027, with aspirations to rival established events like the Coachella Valley Music and Arts Festival in the United States.

The agencies confirmed they are preparing to establish a corporate entity to develop the “FANOMENON” event, emphasizing that the joint venture is intended as a collaborative model to explore new avenues for expanding Korean culture, including K-pop, in international markets. They stated that while procedures to set up the company are underway, detailed business plans and operational frameworks have not yet been finalized.

The companies said they will proceed cautiously, taking into account market conditions and diverse perspectives before making final decisions. The move comes as part of broader efforts by South Korea’s leading entertainment firms to strengthen the global footprint of K-pop through coordinated industry initiatives.

Reports from Korean outlets including ELLE Korea, 주간경향, KBS News, and 뉴시스 have highlighted the significance of the collaboration, noting that the four agencies participate in the music division of the Presidential Committee for Popular Culture Exchange, a presidential advisory body focused on coordinating the nation’s cultural export strategy.

Park Jin-young previously announced at the committee’s launch event in Goyang, Gyeonggi Province, that the goal includes building a world-class K-pop venue and developing a festival that surpasses major international counterparts. The plan involves initial domestic rollout followed by international expansion, with the festival expected to debut in Korea in late 2027 and potentially expand to major global cities starting in 2028.

JYP Entertainment confirmed in a statement that discussions are ongoing with the Presidential Committee on Popular Culture Exchange regarding a public-private partnership model to support the global expansion of K-culture. The agency reiterated that the four companies forming the committee’s music subcommittee are currently preparing to establish the corporation to advance the “FANOMENON” project.

As of mid-April 2026, no official launch date or host city has been confirmed beyond the stated target of December 2027 for the inaugural event. The agencies have not disclosed specific financial details, venue plans, or artist lineups associated with the proposed festival.