HYBE, SM, JYP and YG Team Up for 'Phenomenon' After Trademark Controversy

South Korea's four major K-POP agencies have established a joint venture to oversee "Phenomenon," a large-scale K-POP festival scheduled for December 2027, following controversy over the event's trademark ownership.

According to industry sources on Nov. 10, HYBE, SM Entertainment, JYP Entertainment and YG Entertainment jointly established Phenomenon Co., Ltd., which completed its corporate registration on Oct. 26. The company will handle the festival's planning, production and operations.

Phenomenon is planned as a major K-POP event combining concerts, fan-focused award ceremonies and exhibitions featuring Korean cultural brands.

The festival previously faced controversy after it emerged that JYP Entertainment had filed trademark applications under its own name, despite the event being developed through a public-private initiative. The move raised questions about whether a single entertainment company should control the trademark rights to a project involving the government.

The controversy also drew attention to J.Y. Park, who serves as co-chair of the Presidential Committee on Popular Culture Exchange while holding a senior executive role at JYP Entertainment.

Following the criticism, the Ministry of Culture, Sports and Tourism announced plans to establish a joint venture involving the four agencies.

Under an agreement signed on Oct. 22, trademark ownership was divided equally between the ministry and the newly established company, with each holding a 50% stake.

The joint venture will be led by CEO Park Yoon-seo, who previously worked at HYBE and JYP Entertainment. Representatives from all four agencies will also serve on its board.

With the company now established, preparations for the festival are expected to move forward. Further details, including the artist lineup, venue and scale of the event, have yet to be announced.