South Korea Set to Launch Its Own Music Festival Inspired by Coachella

South Korea is set to launch its own music festival, inspired by Coachella, with the collaboration of its major entertainment companies known as the 'Big 4.' HYBE, SM Entertainment, JYP Entertainment, and YG Entertainment aim to create a global festival by 2027-2028, significantly boosting the K-pop industry's international presence. The initiative, dubbed the Phenomenon, will feature artists from these labels and plans to expand into a global touring festival. This venture represents a significant step in promoting Korean culture worldwide, with equal stakes from each company and a vision to surpass existing music festivals.

By Narendra Chaudhary Apr 16, 2026, 15:31 IST

Introduction to the New Festival

South Korea is gearing up to introduce its own version of the Coachella Music Festival, spearheaded by the country's leading entertainment firms, known as the "Big 4." On April 16, major players in the industry—HYBE, SM Entertainment, JYP Entertainment, and YG Entertainment—announced their collaboration to create a global festival by the years 2027-2028. Industry experts believe this initiative will significantly enhance the global presence of the K-pop genre. The festival is anticipated to feature artists from these four prominent labels. HYBE is recognized for managing BTS and NewJeans, while SM is known for EXO and aespa. JYP is behind Stray Kids, and YG is associated with Blackpink, among others.

Collaboration of the Big 4

Big 4 Join Forces for K-pop Festival

HYBE, SM, JYP, and YG are actively involved in the music sector of the Presidential Committee for Popular Culture Exchange. Reports from Korean media indicate that they are in the process of forming a corporation aimed at advancing a 'Phenomenon' event.

The Phenomenon Initiative

According to reports, the four agencies are progressing towards establishing a new entity focused on concert organization and festival production. They have already filed a merger notification with the Fair Trade Commission (FTC). Given that HYBE is categorized as a large conglomerate and SM is part of the Kakao Group, this venture necessitates an FTC review. The initiative, dubbed the Phenomenon initiative, was introduced by JYP founder and committee co-chair Park Jin-Young during its inauguration in Goyang last October. He outlined the vision for a grand Korean music festival under this name, aiming for a launch in December 2027. Plans are also in place to expand into a global touring festival starting in May 2028, with aspirations to create a "world-class K-Pop concert venue that surpasses Coachella."

Global Expansion of K-pop

Expanding K-pop Globally

This joint venture is being hailed as a "model for collaboration" aimed at exploring new avenues for the global expansion of Korean culture, particularly K-pop. The agencies have stated that they will make informed decisions based on market conditions and various opinions. Each of the four companies will hold equal equity stakes in the venture, although the organizational structure, including the CEO and board of directors, is still under discussion. Over the years, K-pop acts such as Epik High, Blackpink, aespa, Jackson Wang, BIBI, ATEEZ, LE SSERAFIM, and ENHYPEN have graced the Coachella Music Festival in the United States.