Preparations for Joint Venture Among 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 in which South Korea’s four leading music entertainment companies will work together to organize global music festivals, built upon a public-private partnership framework with the Fair Trade Commission.

Plan to Launch a Global Festival

These entertainment companies have outlined a vision to hold the “FANOMENON” festival in December 2027, featuring K-culture fans from around the world. Aiming to surpass the world’s largest music festival, Coachella, they are seeking industry-wide cooperation to expand K-POP and K-Culture globally. JYP Entertainment stated, “At the private sector level, the four companies involved in the popular music division are currently in the stage of preparing to establish a legal entity to advance the ‘FANOMENON’ event.”

Collaboration Structure and Procedures

The establishment of this JV was initiated because stable progress requires industry-wide collaboration rather than action by individual companies alone. Discussions are underway regarding the organizational structure for cooperation between the companies, along with various procedures including filing a corporate merger report with the Fair Trade Commission. As of now, it is still in the initial review phase, with no specific details on the project content or operational methods finalized. Decisions will be made carefully in future discussions by taking into account market conditions and diverse opinions.

Collaboration Model with the Government

Park Jin-young, chairman of the Popular Culture Exchange Committee, announced the plan to hold the FANOMENON festival in December 2027 during its launch ceremony last October. This model involves joint efforts by the government and private sector to promote the global spread of K-culture, with the goal of ensuring sustainable growth for the K-POP industry. JYP explained, “The push to establish this JV is an issue under discussion as a collaborative model aimed at exploring the expansion potential of K-Culture, including K-POP, in the global market.”