'PANOMENON' Brings Together K-pop's Big Four Agencies… Joint Venture Registered, Shares Trademarks 50-50 With Culture Ministry

Public-private governance gets underway… Takes the lead on global mega-festival

A dedicated joint venture that will serve as the control tower for 'PANOMENON,' a massive global K-pop festival set to debut next December, has officially launched.

According to legal and entertainment industry sources on the 10th, PANOMENON Co., Ltd., a 'joint venture' jointly funded by the so-called 'Big Four K-pop agencies'—JYP Entertainment, HYBE, SM Entertainment and YG Entertainment—completed its registration with the Seoul Central District Court's Registry Office on the 26th of last month.

The newly established PANOMENON Co., Ltd. will oversee overall planning and production, stage design and on-site operations for 'PANOMENON,' which is being developed as a global mega-event. It will also lead ancillary businesses that use the festival brand and oversee intellectual property (IP) management.

The allocation of the core asset, the 'trademark rights,' has also been officially completed. PANOMENON Co., Ltd. received a 50% share of the trademark rights filed in JYP Entertainment's name in major countries at home and abroad, while the Ministry of Culture, Sports and Tourism acquired the remaining 50%. On the 22nd of last month, the ministry signed a 'joint ownership agreement for PANOMENON-related trademarks' with JYP Entertainment, finalizing the decision to split the rights equally.

The company also took care in assembling its management team to secure both expertise and the ability to execute. The first CEO of PANOMENON Co., Ltd. is 'Park Yoon-seo,' who built up a feel for the entertainment business through experience at both HYBE and JYP Entertainment. Kim Jeong-jip, Won Woo-hyeon, Yoon Han-gil and Shin Hyeon-guk have joined the board as non-executive directors, while Kim Mu-hyeon will serve as auditor and monitor management transparency.

With leading K-pop companies that have become central players in the global music market and a government ministry establishing an execution body in the form of a single corporation, work is expected to accelerate on a detailed implementation roadmap for the massive outdoor festival 'PANOMENON.'