South Korea’s major entertainment companies – HYBE, SM Entertainment, JYP Entertainment and YG Entertainment – are in discussions to establish a joint venture focused on a global K-pop festival initiative, according to local media reports.

JYP Entertainment confirmed that the four companies are preparing to establish a corporation tied to the project. The companies are working under a public–private cooperation framework with the Presidential Committee on Popular Culture Exchange.

The proposed venture would formalise plans for Fanomenon, a global K-pop festival concept that would involve dedicated performance venues in multiple locations.

JYP Entertainment said discussions remain at an early stage and that no specific business model or operational framework has been finalised. The talks come as K-pop group BTS (pictured) are currently undertaking their global tour which sold 2.4m tickets.

JYP Entertainment said, “It is true that we are discussing a public–private cooperation model with the government’s Presidential Committee on Popular Culture Exchange to promote the global expansion of the K-culture industry.”

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