SEOUL — South Korea’s largest Kpop agencies are in discussions to collaborate on an ambitious global music festival aimed at showcasing Korean popular culture to audiences worldwide. The event, tentatively titled Fanomenon, is being positioned by local media as South Korea’s answer to the legendary U.S. festival Coachella.

HYBE, SM Entertainment, YG Entertainment, and JYP Entertainment — the four major players in the Kpop industry — have announced plans to create a joint venture to develop this large-scale festival. In a statement, the companies revealed their efforts to bring the Fanomenon event to life, with the goal of providing a platform for Kpop and other aspects of Korean culture on the global stage.

The government’s Popular Culture Exchange Committee is also involved in the talks, as the companies explore new ways to expand Kpop’s reach through industry-wide cooperation rather than relying on individual company projects. This marks a significant shift in the approach to global promotion for the genre.

The Fanomenon concept was first revealed in 2022 by JYP founder Park Jin-young, who also serves as co-chair of the committee. At its initial announcement, Park expressed a grand vision: to establish a recurring mega festival that would start in South Korea and eventually tour international cities. He outlined plans to make the event comparable to global festivals like Coachella.

Under Park’s plan, the festival could debut as early as 2027 in South Korea, followed by international editions beginning in 2028. The festival would feature a diverse lineup, blending Kpop acts with other facets of Korean popular culture, offering something for global audiences beyond just music.

These talks take place amid South Korea’s broader push to promote Kpop globally. President Lee Jae Myung has tasked Park with leading efforts to expand the Kpop industry and pledged strong government support, while remaining hands-off on artistic decisions.

However, the companies involved have made it clear that the discussions are still in the early stages. No concrete business plans, schedules, or operational structures have been finalized. They have stressed that the joint venture model is still being explored, with necessary procedures, including filing with the Fair Trade Commission, already in progress.

As negotiations continue, the companies emphasize that any final decisions will be made with careful consideration of market conditions and the broader industry’s perspectives.

-Reporting by Kyu-seok Shim, Editing by Ed Davies/Reuters