“Fanomenon” Unites Four Major Agencies, Aiming to Become Korea’s Version of Coachella

As the first project launched by the Popular Culture Exchange Committee led by Park Jin-young, this initiative brings together the four major K-pop agencies with the goal of expanding K-pop’s global reach.

JYP Entertainment, SM Entertainment, YG Entertainment, and HYBE announced on the 16th that they are preparing to establish a joint venture to organize the “Fanomenon” event. The term “Fanomenon” is a combination of “Fan” and “Phenomenon,” referring to cultural phenomena created by fans.

This concept was introduced by Park Jin-young, co-chairman of the Popular Culture Exchange Committee, during the committee’s inauguration ceremony last October. At that time, he outlined a plan to hold annual “Fanomenon” festivals in South Korea starting from December 2027, following a two-year preparation period, with global tours beginning in May 2028.

The four agencies described this partnership as a collaborative model for the global expansion of the K-culture industry. They emphasize that stable progress requires industry-wide cooperation rather than competition among individual companies. Currently, each company is proceeding with necessary procedures, including filing a merger report with the Fair Trade Commission.

Park Jin-young’s vision is to create a mega-event on par with world-renowned music festivals such as the “Coachella Valley Music and Arts Festival” in the United States and the “Glastonbury Festival” in the United Kingdom. The four agencies plan to establish the joint venture with equal investment, though decisions regarding leadership and governance structures have not yet been finalized.

The companies stated, “We are currently in the initial review stage, and no specific details about the project or operational methods have been determined.” They added, “We will make careful decisions based on market conditions and various opinions throughout future discussions.”