Overview
- HYBE, SM, JYP and YG said Thursday they are preparing a jointly owned company and have notified Korea’s Fair Trade Commission as they develop the Fanomenon festival.
- The planned venture would act as a concert-planning hub for a large K-pop festival featuring artists from all four labels, with a Korea debut targeted for December 2027 and a global tour from May 2028.
- The companies say investment is expected to be equal, while leadership, board structure and operating plans have not been set and could change after the review.
- The project is being built with the Presidential Committee on Popular Culture Exchange, and co-chair Park Jin-young has pitched Fanomenon as a festival that could rival Coachella.
- Regulators require the filing because HYBE is a large conglomerate and SM is tied to Kakao, and an FTC official said the agency cannot confirm individual filings and review timelines vary.