HYBE, SM, JYP, and YG incorporate Fanomenon festival JV with $3M in capital and a board seat each (report)

HYBE, SM Entertainment, JYP Entertainment and YG Entertainment have incorporated Fanomenon Co., the joint venture set to run a new K-pop festival in South Korea from December 2027. The four agencies have equal stakes and voting rights, and the company’s structure gives each one a seat on its board.

Fanomenon Co. was registered on 26 October with KRW 4 billion, about US$3 million, in paid-in capital; its permitted share issue could raise that to KRW 25 billion. The festival is intended to reinvest profits in future editions, limit the four agencies’ acts to 30% of the line-up and make room for smaller agencies. Its main event is expected to rely on private funding, while a separate KRW 15 billion, about US$11.2 million, was reportedly budgeted for related government initiatives in 2027. The incorporation follows criticism over JYP’s handling of the festival trademark, including overseas filings that remained in its name.