JYP’s ‘Fanomenon’ to Generate KRW 1 Trillion and Draw 520,000 Visitors [Full Report]

Press briefing on the announcement of the 2027 Fanomenon implementation plan The government will work with HYBE, SM, JYP, and YG Entertainment to launch the global festival ‘Fanomenon’ The domestic Fanomenon event will run for 11 days from Dec. 2 to 12, while the Korean version of Coachella Valley Music and Arts Festival is slated for 2028 Expected economic impact: KRW 1 trillion and 520,000 visitors

사진 확대 JYP answers questions about the Fanomenon implementation plan. Photo | News1

“When we said K-pop would enter the U.S. market, nobody believed it. Honestly, it’s incredibly hard, so please help us a lot.”

JYP, chair of the Presidential Committee on Popular Culture Exchange, made the remark while discussing the launch of the global festival Fanomenon, which is being promoted with government support.

On the 27th, a press briefing on the announcement of the 2027 Fanomenon implementation plan was held at the National Museum of Modern and Contemporary Art, Seoul, in Samcheong-dong, Jongno-gu, Seoul. Minister of Culture, Sports and Tourism Choi Hwi-young and JYP, chair of the Presidential Committee on Popular Culture Exchange, attended the event.

The music division of the Presidential Committee on Popular Culture Exchange will promote the Fanomenon event with four companies: HYBE, SM, JYP, and YG Entertainment. The four entertainment firms have also established a joint venture to host a global K-pop festival. The JV was created as a cooperative model to explore the potential for expanding K-culture, including K-pop, in the global market.

Fanomenon aims to foster the global growth of K-culture, attract more visitors to Korea, and encourage repeat visits by staging a large-scale K-culture festival that brings together the strengths of various K-culture sectors.

JYP said, “This began as a public-interest effort to introduce Korean music to the world. In that context, the K-pop market should be seen as a fandom industry. If Korea becomes the leader of this industry, it will become the leader of an entire sector.” He added, “I believe the power our country holds will last for a long time through this event. It will not be harmful to K-pop culture; rather, it will be a great opportunity.”

사진 확대 JYP announces the 2027 Fanomenon implementation plan. Photo | Yonhap News

The Fanomenon project consists of three parts: hosting festivals in Korea and abroad, building K-culture hubs in key cities around the world, and holding an awards ceremony.

The event is expected to take place at the Seoul Arena in Chang-dong and KINTEX Exhibition Hall 2 in Ilsan, Goyang. Concerts, an awards ceremony, and exhibitions of nominees by category will be held at Seoul Arena, while KINTEX will host a music festival, as well as exhibitions and hands-on experiences featuring K-culture companies. The event will run for 11 days from Dec. 2 to 12, maintaining a festival atmosphere throughout. The overseas Fanomenon festival, described as Korea’s version of Coachella Valley Music and Arts Festival, is scheduled to be held in Los Angeles in May 2028.

According to JYP, the awards ceremony will recognize the fandom that generated the most buzz that year. The top fandom among the top 10 will be honored on site, and the artist will accept the award on its behalf.

JYP said, “We will prepare based on detailed data about fandoms so that everyone can agree with it.” He added, “What matters most first is bringing many companies together and creating synergy.” He continued, “There may be concerns about quantifying fandoms, but actors also hold awards ceremonies after completing a project. Just as major awards shows have now become part of our culture, I am confident that Fanomenon will eventually take root and bring more benefits than side effects.”

The organizers expect the event to generate more than KRW 1 trillion in economic impact. Total attendance is estimated at about 520,000, including roughly 200,000 overseas visitors. An official from the Ministry of Culture, Sports and Tourism explained that the figures were based on BTS’s domestic concerts and global events.

사진 확대 Minister of Culture, Sports and Tourism Choi Hwi-young and JYP speak at a press briefing of the Presidential Committee on Popular Culture Exchange. Photo | Yonhap News

JYP and Minister Choi expressed confidence in the project’s success, saying, “We will grow this into the country’s top event. We are also viewing the budget positively.” They also emphasized that while artists from the four major agencies will help drive the event’s popularity, artists from smaller agencies will also actively participate.

There are already many awards ceremonies in Korea. In this regard, the two stressed the importance of Fanomenon, saying, “We plan to make many companies and artists prioritize this event. Since it is being carried out at the national level, its significance is different. We would like to thank all industry figures who trust us and are following our lead.”

No details have been finalized yet, including ticket prices, venue, or participating artists. It is still too early to make those decisions, but JYP and Minister Choi remained optimistic about Fanomenon’s success, repeatedly saying, “It will not be a loss.”

Finally, JYP said, “In the past, people also said, ‘Why are you needlessly taking Wonder Girls and making the girls suffer?’ and ‘JYP has caught the America bug.’ But I thought that was a cool move. Isn’t it good to introduce our music to the world?” He added, “I imagine a scene where our country is bustling with K-pop fans. It will bring great happiness to all our people and real benefits to the participating artists and companies. Please support us a lot.”

This article has been translated by GripLabs Mingo AI.