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 represents an industry-level collaboration model in which South Korea’s four leading music entertainment companies work together to organize global festivals, with public-private partnership involving the Fair Trade Commission being a key element.

It was further stated that “at the private implementation level, the Music Subcommittee of the Public Culture Exchange Committee and the four companies are currently in the stage of preparing to set up a legal entity to advance the ‘FANOMENON’ event.”

Global Festival Plans

The push to establish this JV aims to hold the ‘FANOMENON’ festival in December 2027, bringing together K-culture fans from around the world. Last October, Park Jin-young, chairman of the Public Culture Exchange Committee, presented the blueprint for this festival during its launch ceremony. With the goal of surpassing the world’s largest music festival, Coachella, a strategic foundation is being created to expand K-POP and K-Culture globally.

Collaboration Structure and Procedures

The matter is currently in the initial review phase, and no specific details regarding the project content or operation methods have been finalized. The companies are examining possible collaboration structures and going through various necessary procedures, including filing a corporate merger report with the Fair Trade Commission. JYP explained, “This matter is at a stage where the possibility of cooperation is being evaluated. Stable progress requires industry-wide collaboration rather than action by individual companies, which is why we are reviewing structural arrangements among them, including the necessary corporate merger reporting process with the Fair Trade Commission.”

Future Outlook

Decisions will be made carefully in future discussions by comprehensively considering market conditions and various opinions. It was stated that the matter is still in the initial review stage, with no concrete details on project content or operation methods yet confirmed, and that cautious decisions will be taken after thorough consideration of market trends and diverse viewpoints during upcoming discussions.