Major K-pop labels consider joint global festival to rival Coachella

South Korea’s leading K-pop companies are in early discussions to collaborate on a large-scale global music festival aimed at showcasing Korean pop culture on an international stage.

Entertainment giants HYBE, SM Entertainment, YG Entertainment and JYP Entertainment said they are exploring the creation of a joint venture to develop “Fanomenon,” a proposed mega festival featuring top K-pop acts and broader elements of Korean cultural exports.

The initiative is being discussed in collaboration with the government-backed Popular Culture Exchange Committee, reflecting a wider push to expand the global reach of the K-pop industry through collective efforts rather than individual agency projects.

The concept of “Fanomenon” — a blend of “fan” and “phenomenon” — was first introduced by Park Jin-young, who co-chairs the committee. 

Under the proposal, the festival could debut in South Korea as early as 2027, with plans to expand internationally from 2028.

The long-term goal is to establish a recurring global event capable of rivaling major festivals such as Coachella, while highlighting not only K-pop but also other facets of Korean popular culture.

The discussions come as Lee Jae Myung seeks to strengthen the country’s cultural industries, appointing Park to help lead promotional efforts while pledging government support without interfering in creative direction.

Despite the ambition, the companies emphasized that talks remain in the early stages, with no finalised plans regarding structure, scheduling or operations. 

They added that any potential joint venture would require regulatory procedures, including filings with South Korea’s Fair Trade Commission.

Industry stakeholders are expected to proceed cautiously as discussions continue, taking into account market conditions and broader input from across the K-pop sector.