SM Entertainment, YG Entertainment, JYP Entertainment and Hybe are in early talks to launch a large-scale music event that can rival Coachella Valley Music And Arts Festival, slated for a December 2027 debut.

South Korea's top four K-pop agencies -- Hybe, YG Entertainment, SM Entertainment and JYP Entertainment -- are working to establish a joint venture, seen as a move toward creating a global music festival involving their artists.