'Phenomenon' fandom festival targets W1tr economic impact, Seoul debut in Dec. 2027

"If we can define fandom as an industry and establish South Korea as the leader of that industry, it will be a strong force for the advancement of popular culture."

A national-scale project called "Phenomenon" — aimed at securing South Korea's leadership in the global fandom industry and strengthening the long-term sustainability of K-culture beyond K-pop — has finally taken shape.

Park Jin-young, co-chair of the Popular Culture Exchange Committee, said at a press briefing held Monday afternoon at the National Museum of Modern and Contemporary Art in Seoul that he had been thinking about "a project that could sustain K-culture through the next generation and serve as one of the driving forces of our country, at a time when K-culture is enjoying such a great opportunity."

The starting point and central keyword of the project is "fandom industry." Park said that when the government asked him, "What can we do for those of you on the front lines?", his answer — after 10 months of deliberation — was that the work needed to be defined as an industry.

"Phenomenon" is a portmanteau of "fan" and "phenomenon," carrying the meaning of "a phenomenon created by fans." The brand has already been trademarked in major global markets. The project aims to be a large-scale, multifaceted cultural festival that brings together the full range of popular culture — including K-pop — going well beyond one-off performances or awards ceremonies.

Choi Hwi-young, Minister of Culture, Sports and Tourism and co-chair of the committee, said Phenomenon is "a large-scale festival that concentrates the cultural strengths of diverse K-culture fields," and called the briefing "the starting point for unveiling the broad direction and framework finalized after 10 months of intense discussion."

The three core pillars of the Phenomenon project are an awards ceremony (December 2027), a festival (May 2028) and the establishment of K-culture centers in key cities around the world.

The "Phenomenon Awards" — the project's central pillar — will launch in South Korea in December 2027. Rather than honoring singers, the awards will go to fandoms, with artists accepting on their fans' behalf. The top prize will be called the "Fandomonium," a name already trademarked in major markets worldwide.

Quantifying fandom and ranking it for awards, however, is no simple task. Park said the committee is "building a matrix that is so meticulously tracked — using data from global platforms like Spotify and YouTube — that no one can argue with it," rather than relying on popularity votes. "There will be side effects to measuring the artistic realm," he acknowledged, "but I am convinced that if authority and trust are established early, the benefits will far outweigh the drawbacks — just as with acting awards or the Grammys."

The project extends well beyond an awards show. Centered on the 20,000-seat Seoul Arena in Changdong and KINTEX in Ilsan — a venue equivalent in size to seven soccer fields — an 11-day K-culture festival will combine performances, exhibitions, gaming, fashion, food, drama series and webtoons. The organizing committee expects the event to draw 520,000 visitors annually, attract 200,000 overseas tourists and generate an economic impact of around 1 trillion won ($682 million), according to estimates by the Korea Culture and Tourism Institute.

"I want to make Seoul the city the world's fandoms head to every December," Park said, describing his goal as creating "a global cultural event that defines a specific city — like Coachella."

After launching with the awards ceremony, the Phenomenon project will signal the start of a "Korean Coachella" with a festival in Los Angeles in May 2028. The vision also includes building K-pop centers in key cities around the world. Park described the concept as creating "a performance venue of around 20,000 seats that also houses government offices, various companies, and stores representing South Korea's leading brands." He added that Minister Choi had described it as "a single spaceship representing South Korea lifting off and landing in major cities around the world."

The project's primary driving force is the four major K-pop entertainment companies — HYBE, SM, JYP and YG. The four companies have applied to establish a joint venture through co-investment and are awaiting the outcome of a merger review. Given that the industry's biggest players are joining forces, concerns have been raised about a potential monopoly and the marginalization of smaller agencies.

Park pushed back on those concerns, saying that if the project ends up favoring the four major agencies while excluding smaller ones, "we'll get hammered for it." He said the four companies are meant to "serve as the vanguard that draws people and attention," while the true purpose is "to open up a vast field of opportunity for up-and-coming agencies and companies in other K-culture industries."

He went on to say that "Phenomenon's first priority is the public good, and drawing in private-sector participation," adding that "the four K-pop companies even formed a company to move in unison, and that company and the government are working together to achieve a public-interest goal."

The three-phase project is not designed as a giveaway event. The government asks industry practitioners what they need and provides budget support accordingly. The Popular Culture Exchange Committee plans to sell tickets for artist performances held alongside the Phenomenon awards ceremony and to generate revenue through sponsorships.

Both co-chairs also drew a clear line against characterizations of the project as a government-directed cultural initiative. Choi said the government "does its job well, but does not have the capacity to elevate K-pop to this level around the world on its own," describing the government's role as simply "an institution that asks field experts what needs to be done and provides administrative and budget support."

Park agreed, saying that "if the government plans something and tells the private sector to do it, the odds of failure are high." He described the project's structure as "a reverse approach, where frontline private agencies come up with the ideas and the government adds the public-interest dimension." He added that "this event will make money — it is impossible to get artists and companies from around the world to participate in an event that does not. Because it started with a public-interest goal, it cannot be driven purely by commercial logic, which is why government budget support will be provided."

December is the busiest month of the year for South Korea's music industry. Year-end awards ceremonies begin as early as November, leaving agencies scrambling to manage their artists' schedules. The project also faces the practical challenge of sacrificing profitability in its early years before it can establish itself.

Choi expressed deep gratitude to major artists for "sacrificing their schedules and earnings to join the cause, given the constraints of domestic indoor venues," and made clear that the committee's focus would be on building credibility. "Ideas keep multiplying, and if we try to fit them all in, we'll end up in another galaxy — so we keep cutting," he said.

Park's ambitions reach further still: he wants the annual Phenomenon awards ceremony held in South Korea to earn the same authority and trust as the Grammy Awards in the United States.

"Just imagining the world's eyes turning to Seoul every December is thrilling," he said. "For that to happen, getting established in the early years is critical. Fortunately, the heads of the four companies and their artists share that vision."

He then reflected on his earlier career, recalling the criticism he faced when he first tried to break into the American market. "When I was taking Wonder Girls to the US, people said, 'Why are you dragging them over there for nothing?' and 'Park Jin-young has caught America fever' — those words left deep bruises. When Lehman Brothers collapsed and I lost 10 billion won in US investments and wanted to give up, I told myself, 'This is too great a thing — just hold on,'" he said. "Watching Twice and Stray Kids perform at SoFi Stadium in LA, I realized that what Bang Si-hyuk and I had been racking our brains over in some corner of America had become reality. I'll keep holding on for the vision of Seoul becoming a stage for the world's great festivals — please lend us your support."