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.