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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] South Korea’s leading entertainment companies—JYP Entertainment, SM Entertainment, YG Entertainment, and HYBE—are reviewing plans to establish a joint venture (JV) aimed at expanding K-culture globally.
In a statement on February 16, JYP Entertainment said the companies are discussing a public-private cooperation model with the government-affiliated Popular Culture Exchange Committee to support the global growth of the K-culture industry.
The four companies are currently preparing to set up a corporate entity to promote a joint initiative referred to as the “Panominium” event, as part of the music division under the committee.
JYP emphasized that the discussions remain at an early stage, noting that the initiative is being explored as an industry-wide collaboration rather than a company-specific project. “Given the need for stable execution, we are reviewing a cooperative structure among companies,” JYP said, adding that necessary procedures—including a potential merger filing with the Korea Fair Trade Commission—are under consideration.
Details such as the business scope and operational structure of the proposed JV have yet to be finalized. The four companies said they will make a final decision after considering market conditions and a range of stakeholder views.
알파경제 Paul Lee 특파원(hoondork1977@alphabiz.co.kr)
