Hybe, JYP, SM, YG to form joint venture for ‘Korean Coachella’

Four major K-pop agencies are joining forces to establish a joint venture to launch a large-scale music festival that could rival global events such as Coachella. According to local media reports Thursday, Hybe, JYP Entertainment, SM Entertainment and YG Entertainment recently submitted a business combination report to the Fair Trade Commission as part of plans to establish a joint venture focused on concert planning. The filing is required, as Hybe is classified as a large conglomerate with ass