Big K‑Pop fest announced

Hybe, SM Entertainment, JYP Entertainment and YG Entertainment are setting up a joint venture to launch a K-pop festival in South Korea in December 2027. (koreajoongangdaily.joins.com) JYP Entertainment said on Thursday that the four companies have filed with Korea’s Fair Trade Commission as they review a shared corporate structure for the project. The Korea Herald reported the venture is expected to be funded equally by the four companies, though leadership and governance are still undecided. (koreajoongangdaily.joins.com) (koreaherald.com) The working name is “Fanomenon,” a portmanteau of “fan” and “phenomenon.” J.Y. Park said at the October 1, 2025 launch of the Presidential Committee on Popular Culture Exchange that the plan calls for an annual festival and awards ceremony in December 2027, followed by a global tour starting in 2028. (koreajoongangdaily.joins.com) (en.yna.co.kr) The four companies control much of K-pop’s global touring pipeline. Hybe manages acts including BTS and Seventeen, SM Entertainment has aespa and NCT, JYP Entertainment has Stray Kids and Twice, and YG Entertainment has Blackpink and Treasure. (koreajoongangdaily.joins.com) Live events have become a larger business for those agencies as album sales mature and touring rebounds. Hybe reported 2.65 trillion won in 2025 revenue, while SM Entertainment posted 1.17 trillion won, JYP Entertainment 821.85 billion won and YG Entertainment 545.40 billion won. (musicbusinessworldwide.com) (stockanalysis.com 1) (stockanalysis.com 2) (stockanalysis.com 3) The project also sits inside a broader government push to export Korean culture. President Lee Jae Myung launched the Presidential Committee on Popular Culture Exchange on October 1, 2025, with Park Jin-young and Culture Minister Chae Hwi-young as co-chairs. (en.yna.co.kr) (koreajoongangdaily.joins.com) JYP Entertainment said the festival plan is still in an early review stage and that no operational details have been finalized. That leaves open basic questions including lineup commitments, venue scale, ticketing, and how the companies will divide decision-making. (koreajoongangdaily.joins.com) (koreaherald.com) For now, the clearest date is December 2027. If the venture clears regulators and the four agencies stay aligned, South Korea’s biggest entertainment companies will try to turn one domestic festival into a recurring global tour. (koreajoongangdaily.joins.com) (koreaherald.com)