J.Y. Park Rejects Favoritism Claims Over Fanomenon Project

J.Y. Park addressed concerns about Fanomenon during an October 7 National Assembly audit of the Ministry of Culture, Sports and Tourism. Appearing as a witness in his role as co-chair of the Popular Culture Exchange Committee, he was questioned about a trademark application filed by JYP Entertainment for the large-scale project. Lawmaker Bae Hyun-jin raised concerns about the timing of the application and possible preferential treatment for the participating agencies.

Bae also cited projections that the project, described as a Korean Coachella, could bring in nearly 500 billion won, and questioned whether JYP, YG, SM and HYBE should control that revenue. Park acknowledged that the business agreement needed more careful handling and said he would review such matters more thoroughly. He rejected claims that the government had simply provided special benefits to private companies, arguing the agencies could potentially earn two or three times more by holding separate concerts.

Park said it had been difficult to persuade the companies to participate, and that they could face losses worth tens of billions of won over several years. He said they agreed based on the project’s longer-term vision and possible benefits to other industries. Culture Minister Choi Hwi-young said the initiative aimed to build on the agencies’ global achievements, not secure commercial privileges, and noted that it could not proceed if any participant withdrew.