News Hybe, JYP, SM, YG to form joint venture for ‘Korean Coachella’ (1 Viewer)

[Selfmate]

Four major K-pop agencies are joining forces to establish a joint venture to launch a large-scale music festival that could rival global events such as Coachella.

According to local media reports Thursday, Hybe, JYP Entertainment, SM Entertainment and YG Entertainment recently submitted a business combination report to the Fair Trade Commission as part of plans to establish a joint venture focused on concert planning.

The filing is required, as Hybe is classified as a large conglomerate with assets exceeding 5 trillion won, and SM Entertainment is affiliated with the Kakao Group.

The Presidential Committee on Popular Culture Exchange also confirmed that discussions are underway on a public-private partnership model to expand the global reach of “K-culture.”

“In the private sector, the four companies under the committee’s music division are preparing to establish a corporation to promote the ‘Fanomenon’ event,” JYP Entertainment said in a statement. “The joint venture is being considered as a collaborative model to explore the global expansion of K-culture, including K-pop.”

However, the initiative remains in its early stages, with companies reviewing a cooperative structure at the industry level rather than on an individual basis. Necessary procedures, including regulatory approval from the FTC, are currently underway.

The joint venture is expected to be established with equal investment from the four companies, though details regarding leadership and governance structures have yet to be finalized.

It aims to focus on concert planning, to launch a large-scale music festival, tentatively titled “Fanomenon,” in South Korea in 2027. The event would feature artists from all four agencies.

The concept was first introduced during the launch ceremony of the presidential committee held in October, where JYP Entertainment founder J.Y. Park outlined plans for a mega event combining the words “fan” and “phenomenon.”

Park said the festival would debut in Korea in December 2027 after about two years of preparation, with plans to expand into a global touring event across major cities starting in May 2028.

Source: https://www.koreaherald.com/article/10719072

 

[Selfmate]

South Korea’s four major music agencies—HYBE, YG, SM, and JYP—have joined forces.

On the 16th, JYP Entertainment shared its stance with OSEN regarding the establishment of a joint venture (JV) involving the four companies (HYBE, YG, SM, JYP).

Earlier that day, a media outlet reported that the four leading domestic entertainment companies were in the process of forming a joint venture to create a global festival.

In October of last year, Park Jinyoung, the chairman of the Presidential Committee on Popular Culture Exchange, unveiled a blueprint at the committee’s launch ceremony to host the FANOMENON (FAN+PHENOMENON) festival with global K-culture fans by December 2027. The goal is to surpass the world’s largest music festival, ‘Coachella’.

Regarding this, JYP explained, “It is true that we are discussing a public-private cooperation model with the Presidential Committee on Popular Culture Exchange to expand the global reach of the K-culture industry. In the private sector’s execution phase, the four companies under the committee’s music division are preparing to establish a legal entity to promote the ‘Fanomenon’ event.”

It added, “The push to establish this JV is being discussed as a collaborative model to explore the potential for expanding K-Culture, including K-POP, in the global market.”

Furthermore, the agency stated, “This matter is in the early stages of reviewing collaboration possibilities. Since stable progress requires industry-wide cooperation rather than individual corporate efforts, we are examining a collaborative structure between companies. As part of this process, we are proceeding with necessary steps, including filing a business combination report with the Korea Fair Trade Commission.”

Finally, it conveyed, “As this is currently in the initial review phase, no specifics regarding business content or operational methods have been finalized. Moving forward, decisions will be made cautiously, taking into account market conditions and diverse opinions during discussions.”

Source: https://www.chosun.com/english/kpop-culture-en/2026/04/16/E5YORXYWYFHUTNPJRTJKW6GR24/

 

[Snailmin]

Oh wow

 

[TrinityJade]

Interesting

 

[LoveforYe_na]

If they do this lowkey I’d attend

 

[centen]

You know, this could be quite cool if they could actually do it, and be kind of like Coachella in giving smaller acts a small performance option too. Like part of the appeal of Coachella isn't just the big names doing big flashy performances, but also having those opportunities to discover acts you'd never stumble across otherwise.

 

[RandAlThor]

Interesting.

so a multi day dream concert with smaller stages?

 

[Selfmate]

If they do this lowkey I’d attend

You know, this could be quite cool if they could actually do it, and be kind of like Coachella in giving smaller acts a small performance option too. Like part of the appeal of Coachella isn't just the big names doing big flashy performances, but also having those opportunities to discover acts you'd never stumble across otherwise.

it would depend on the artists they recruit to perform there...
I mean if they could get groups like BTS, BP, Aespa, Twice etc as headliners then other groups will be flocking to attend and give the show more relevancy (at least to begin with)

 

[LoveforYe_na]

they should do big groups and small ones so they can get exposureeee, Id like if Ive was there tho that would make even more people come because theyre pretty big in Asia like wayyyyyy bigger than they are here

 

[Chohee_nyang]

interesting