HYBE, YG, SM, and JYP Collaborate on Global Festival

On April 16, 2026, it was confirmed that HYBE, YG, SM, and JYP are preparing to establish a joint corporation. This represents an official industry cooperation model aimed at expanding the K-pop industry globally, incorporating a public-private partnership approach with the government-led “The Presidential Committee on Popular Culture Exchange.”

These four entertainment companies are developing a global music festival named “FANOMENON” set to take place in December 2027. Their goal is to surpass Coachella, which is considered the world’s largest music festival.

This joint venture originated from the recognition that it requires cooperation at the entire industry level rather than individual actions by single companies. HYBE, YG, SM, and JYP are exploring the potential for global expansion of the K-cultural industry through industry-wide collaboration, and they have already submitted a merger notification to South Korea’s Fair Trade Commission. As of now, the process is still in the stage of evaluating cooperation possibilities, with no specific details regarding the project’s framework or operation methods finalized.

This collaborative effort is based on the blueprint for a “FANOMENON” festival proposed by Park Jin-young of JYP during the inauguration ceremony of The Presidential Committee on Popular Culture Exchange last year. This festival aims to connect K-cultural fans around the world, with the core focus being the creation of a diversified content ecosystem centered around K-pop.