South Korea‘s government and the country’s four largest K-pop companies – HYBE, SM Entertainment, YG Entertainment, and JYP Entertainment – have unveiled plans for FANOMENON, a music festival launching in Seoul in December 2027. The committee is co-chaired by Culture, Sports and Tourism Minister Chae Hwi-young and JYP Entertainment founder J.Y. Park presented the plans at a press conference at Seoul‘s National Museum of Modern and Contemporary Art on July 27. The four companies revealed plans for the joint venture in April, as previously reported by MBW. Both of those plans remain at the discussion stage, the Presidential Committee on Popular Culture Exchange said.