SM, JYP, YG, HYBE plan to launch global K-pop festival in 2027

K-pop powerhouses SM Entertainment, JYP Entertainment, YG Entertainment, and HYBE are planning to launch a global K-pop festival in 2027.

According to a Billboard report, Park Jin Young, founder and chief producer of JYP Entertainment, will lead the joint venture project "Fanomenon."

The event is scheduled to debut in South Korea in December 2027, with plans to expand to major global cities starting in 2028. 

The name "Fanomenon" is derived from the words "fan" and "phenomenon," highlighting the growing cultural influence and economic power of fandoms in the global music industry.

The report said Park pledged to "build a world-class K-pop venue and plan a festival that surpasses the Coachella Valley Music and Arts Festival."

In a statement, JYP Entertainment said it is in talks with a government committee on a public-private partnership to support the global expansion of K-culture, including plans to establish a joint corporation for the "Fanomenon" event. 

SM Entertainment is the label behind EXO, NCT, Girls' Generation, and Super Junior. Meanwhile, YG Entertainment is known for creating BIGBANG, 2NE1, and Blackpink. JYP Entertainment houses acts like TWICE and Stray Kids, while HYBE is home to BTS, TXT, and ENHYPEN. —Jade Veronique Yap/MGP, GMA News