Park Jin-young Rejects Preferential Treatment Claims Over Fanomenon

Park Jin-young rejected allegations that JYP Entertainment received preferential treatment while helping prepare Fanomenon, a global K-culture festival. He spoke during a parliamentary audit at the National Assembly in Seoul on Wednesday. Park is JYP’s founder and co-chair of the Presidential Committee on Popular Culture Exchange.

JYP and three other entertainment agencies have led work on the multi-day festival and awards initiative since early this year. The event is scheduled for December next year and is expected to attract more than 500,000 visitors. Its projected economic impact is close to 1 trillion won, or $735.8 million. Critics have argued that the project mainly benefits the companies involved.

Park defended the agencies’ commitment, saying they could pursue other business opportunities instead of organizing the festival. He presented Fanomenon as a project with longer-term aims, including growth in industries such as gaming and fashion. Park also acknowledged procedural flaws in JYP’s advance trademark filings, according to the report.