HYBE, SM, JYP and YG formalize Fanomenon joint venture
The four major K-pop entertainment agencies have taken another step toward bringing Fanomenon to life, officially establishing a joint venture to oversee the government-backed festival scheduled for December 2027.
The joint venture formed by HYBE, SM Entertainment, JYP Entertainment and YG Entertainment to organize Fanomenon was officially registered on Oct. 26, according to its corporate registry.
Named Fanomenon Co., the newly established company began operations with 4 billion won (approximately $3 million) in paid-in capital, comprising 800,000 common shares valued at 5,000 won each. Its articles of incorporation authorize up to 5 million shares, allowing its capital to reach 25 billion won.
Park Yun-suh, born in 1993, has been appointed CEO and sole inside director. Park previously worked at HYBE and JYP Entertainment. Each of the four entertainment companies has also appointed one non-executive director to the board, alongside an auditor.
Beyond organizing concerts, Fanomenon Co. is authorized to undertake a broader range of entertainment-related businesses. Its corporate objectives include operating and acquiring rights to performance venues, ticket sales and brokerage, food and fashion production and distribution, investments in the culture and entertainment industries, and intellectual property licensing.
The festival is scheduled to run from Dec. 2 to 12, 2027, at Seoul Arena in Changdong and KINTEX in Goyang, Gyeonggi Province. The 11-day event is expected to bring together K-pop concerts, fandom awards and corporate exhibitions.
Trademark issue precedes company launch
The establishment of Fanomenon Co. follows questions surrounding the festival's trademark ownership, after JYP Entertainment initially filed for the name independently.
During a parliamentary audit on Oct. 7, Park, co-chair of the Presidential Committee on Popular Culture Exchange, explained that JYP's team had registered the trademark at his own expense to prevent other parties from claiming it. The plan was to transfer the rights once the organization responsible for the festival had been established.
A revised contract submitted to the National Assembly on Oct. 23 reportedly provides for an equal 50-50 division of the trademark rights between the Ministry of Culture, Sports and Tourism and the newly formed joint venture.
Culture Minister Chae Hwi-young also said the ministry would consider taking a more direct role in the company.
With the four major entertainment agencies now formally involved in a single corporate venture, Fanomenon is shaping up to be more than a series of K-pop performances. Its business structure points to a wider entertainment platform built around live events, intellectual property, merchandise and the global fan community.