Top 4 K-Pop Agencies Push Global Festival “Phenomenon” – First Event to Be Held in South Korea in 2027

HYBE, SM, JYP, and YG Entertainment, the four major K-pop agencies, have officially announced the establishment of a joint venture to organize the global K-pop festival “Phenomenon.” The festival is set to be held annually in South Korea starting from December 2027, with plans to expand to major cities around the world beginning in May 2028.

This project, first proposed by Jinyoung, chairman of the Popular Culture Exchange Committee at JYP, during the committee’s launch ceremony last October, has taken shape under the name “Phenomenon.” The term combines the English words “Fan” and “Phenomenon,” reflecting the idea of a phenomenon created by fans.

Jinyoung stated that the Phenomenon festival will be held in South Korea every December starting in December 2027, followed by tours of major cities globally beginning in May 2028. The goal is to create a festival on a larger scale than America’s renowned Coachella Valley Music and Arts Festival.

JYP confirmed that “the music subcommittee of the Popular Culture Exchange Committee and the four agencies are currently preparing to establish a corporate entity to advance the Phenomenon event.” These top agencies are pursuing this collaboration as a model to explore the expansion potential of K-culture, including K-pop, in global markets.

The joint venture will be formed with equal shares contributed by all four entertainment companies and will operate primarily as an event planning company. The four agencies are currently going through necessary procedures such as reviewing inter-company cooperation structures and filing a merger report with the Fair Trade Commission.

However, specific details regarding the festival’s content, operation methods, and organizational structure—including the CEO and board of directors—have not yet been finalized. The agencies explained that “future decisions will be made carefully after comprehensive consideration of market conditions and various opinions during ongoing discussions.”