South Korea’s major entertainment companies HYBE, SM Entertainment, JYP Entertainment, and YG Entertainment are discussing a joint initiative to expand K-culture globally.
On April 16, JYP Entertainment stated that it is reviewing a public–private cooperation model with the government’s Public Culture Exchange Committee to support the global expansion of the K-culture industry.
As part of this initiative, the four companies involved in the committee’s music subcommittee are preparing to establish a corporation to advance the ‘Fanomenon’ project.
The collaboration is intended to develop a global K-pop festival concept led by Committee Chair Park Jin-young.
During the committee’s inauguration in October at KINTEX in Goyang, Park introduced the concept of ‘Fanomenon,’ describing it as a large-scale event combining fan culture and global music trends. The plan includes a preparation period of approximately two years, with the goal of launching an annual festival in Korea starting in December 2027.
The agencies are currently reviewing collaboration structures to support long-term operations. The proposed joint venture is seen as an initial step toward implementing the project, which also includes plans for a dedicated K-pop performance venue.