Preparations for a JV Among the Four Major Entertainment Companies

On April 16, 2026, it was confirmed that HYBE, YG, SM, and JYP are preparing to establish a joint venture. This initiative represents a collaborative model for South Korea’s four leading music entertainment companies to jointly organize global music festivals, built on public-private partnership with the Fair Trade Commission.

It was further stated that “the four companies, along with the Music Division of the Public Culture Exchange Committee, are in the stage of preparing to set up a legal entity to advance the ‘FANOMENON’ event within the private sector’s operational scope.”

Purpose of Establishing the Joint Venture

This push to form a JV is a collaborative model aimed at exploring the expansion potential of K-Culture, including K-POP, in global markets. The decision was made because stable progress requires industry-wide cooperation rather than action at the individual company level. Various procedures, including filings with the Fair Trade Commission for corporate merger approvals, are currently underway, and the process is still in its initial review phase.

Plans for the FANOMENON Festival

Last October, Park Jin-young, chairman of the Public Culture Exchange Committee, outlined a vision at the committee’s launch ceremony to hold the FANOMENON festival in December 2027, featuring fans of K-culture from around the world. With the goal of surpassing the world’s largest music festival, Coachella, this is seen as a strategic move to promote the global spread of K-POP and K-Culture.

Future Outlook

The specific details of the project and its operational methods have not yet been finalized. Decisions will be made carefully during future discussions by taking into account market conditions and various opinions. The current stage is one of assessing potential for cooperation, and the exact timing for establishing the legal entity remains undecided.