Korea's 'Big 4' join forces for K-pop festival to rival Coachella

K-pop may be getting its own version of Coachella, following news that Korea's "Big 4" labels - HYBE, SM Entertainment, JYP Entertainment and YG Entertainment - are collaborating on a massive global K-pop festival called "Fanomenon".

The four companies are expected to hold equal stakes in the joint venture, which aims to celebrate Korean artists. The event intends to showcase Korean pop culture on a scale similar to the iconic American music festival, Coachella.

The name "Fanomenon", meaning "a phenomenon created by fans", was unveiled in 2025 by Park Jin-young, founder of JYP Entertainment and a key figure in the project. The festival could launch in South Korea in 2027, with possible international editions beginning 2028.

The event is expected to not only include performances by K-pop artists but also broader elements of Korean culture, suggesting "Fanomenon" will move beyond music.

Government support for the festival is still under discussion and could play a significant role in boosting the creative sector. There are also reports that the event may potentially be organised in coordination with Korea's Fair Trade Commission.

The initiative reportedly follows comments from President Lee Jae-myung encouraging further promotion of the K-pop industry, with Park Jin-young set to help expand its global reach.

Big Hit Entertainment was founded on February 1, 2005, and signed the vocal trio 8Eight in 2007. In 2010, the company signed a contract with JYP Entertainment to jointly manage the boy group 2AM. That year, Bang Si-hyuk signed RM as the first member of BTS and launched nationwide auditions to recruit other members for the group. BTS made their debut under Big Hit on June 13, 2013.

SM Entertainment Co., Ltd. is a South Korean multinational entertainment agency established in 1995 by Lee Soo-man. It is one of South Korea's largest entertainment companies and has been responsible for fostering and popularizing the careers of many K-pop stars garnering huge global fanbases. The company operates as a record label, talent agency, music production company, event management and concert production company, and music publishing house. SM Entertainment is known for having led the worldwide K-pop phenomenon and the musical side of "Hallyu", also known as the "Korean Wave", with early overseas successes such as H.O.T., S.E.S., and BoA.

JYP Entertainment Corporation is a South Korean multinational entertainment and record label conglomerate founded in 1997 by J.Y. Park. Operating as a record label, talent agency, music production company, event management company, concert production company and music publishing house, it is one of the largest entertainment companies in South Korea. The company also operates subsidiary ventures and divisions internationally.

YG Entertainment Inc. is a South Korean multinational entertainment agency established in 1998 by Yang Hyun-suk. The company operates as a record label, talent agency, music production company, event management and concert production company, and music publishing house. In addition, the company operates a number of subsidiary ventures under a separate public traded company, YG Plus, which includes a clothing line, a golf management agency, and a cosmetics brand. However, despite various business expansions, most of the ventures were discontinued due to a lack of profitability.