Four of South Korea’s biggest K-pop agencies are exploring a joint venture to launch a global music festival that could rival major international events such as Coachella.
The proposed festival, tentatively titled “Fanomenon,” was first introduced by Park Jin-young, also known as J.Y. Park and founder of JYP Entertainment, during the inauguration of the Presidential Committee for Popular Culture Exchange in October 2025.
Described as a blend of the words “fan” and “phenomenon,” “Fanomenon” is a large-scale event envisioned to take place in multiple locations worldwide. Park said the goal is to mount a mega festival by December 2027 that would position South Korea as a major force in the global live music scene.
In an interview with South Korean outlet Maeil Business Newspaper Star Today on Thursday, April 16, Park revealed that discussions are underway for a “public–private cooperation model” with the government’s pop culture committee to help expand K-culture globally.
He added that four agencies under the committee’s music subcommittee, namely HYBE, SM Entertainment, YG Entertainment, and JYP Entertainment, are in the process of establishing a corporation to move the project forward.
According to another report from Yonhap News Agency, the companies are preparing to form a joint corporation to advance the Fanomenon project, describing it as a “collaborative model” aimed at unlocking new opportunities for K-pop and Korean culture in global markets.
The firms are currently reviewing a framework for cooperation to ensure stable business operations. This includes ongoing legal and administrative processes, such as filing for business combination approval with the Korea Fair Trade Commission (KFTC).
However, JYP Entertainment emphasized that the initiative remains in its early stages, with no finalized details regarding business structure or operations.
“We are still in the early review stage, and no specific business details or operating methods have been finalized,” the company said, noting that decisions will be made carefully as discussions progress and market conditions are assessed.
