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Big 4 K-Pop Agencies Pushing for Joint Venture to Launch Global Festival

The agencies said they are setting up a corporation for Fanomenon, a festival they say could rival Coachella by 2027.

Summary by UPI
South Korea's top four K-pop agencies -- Hybe, YG Entertainment, SM Entertainment and JYP Entertainment -- are working to establish a joint venture, seen as a move toward creating a global music festival.

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HYBE, YG, SM, JYP Preparing to Establish Joint Venture... Will a Korean Version of Coachella Emerge? Official OSEN = Reporter Ji Min-kyung. Korea's four leading music agencies—HYBE, YG, SM, and JYP—are joining forces. On the 16th, JYP Entertainment informed OSEN that a joint venture (JV) involving the four companies—HYBE, YG, SM, and JYP—is underway.

[Digital Daily Reporter Cho Eun-byeol] It has been confirmed that Korea's four major entertainment agencies—HYB, SM Entertainment, JYP Entertainment, and YG Entertainment—are moving to establish a joint venture to create a global festival billed as a "Korean-style Coachella." According to JYP Entertainment on the 16th, the four agencies are discussing a public-private cooperation model for the global expansion of the K-culture industry under th…

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businesspost.co.kr broke the news on Thursday, April 16, 2026.
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