JYP Entertainment Founder J.Y. Park Shares Lofty K-Pop Goals In First Speech As New Minister-Level Government Official

He has grand plans.

JYP Entertainment founder J.Y. Park (also known as Park Jin Young) has shared his ultimate goal for K-Pop in his first appearance as a minister-level government official.

The inaugural ceremony to celebrate the launch of President Lee Jae Myung’s Presidential Committee on Popular Culture Exchange was held today, October 1, at Kintex, with the President himself attending and J.Y. Park presenting a speech.

| Yonhap

During the event, President Lee Jae Myung was seen exploring a K-Pop exhibit and checking out classic K-Pop merchandise, such as lightsticks and photocards. He also took a photo with J.Y. Park prior to the latter’s speech.

| Newsis

Lee Jae Myung’s Presidential Committee on Popular Culture Exchange also shared that 26 notable individuals, including SM Entertainment CEO Jang Cheol Hyuk, HYBE CEO Lee Jae Sang, YG Entertainment CEO Yang Min Suk, JYP Entertainment CEO Jung Wook, and CJ ENM CEO Yoon Sang Hyun were appointed to an advisory position under the Regulations on the Establishment and Operation of the Popular Culture Exchange Committee, in order to help advice on Korea’s pop culture policies.

J.Y. Park also shared on this day his goals for Korean culture, aiming big to make sure Korea would become the entertainment capital of Asia.

We will build the world’s best K-Pop concert hall and make global festivals [in Korea] the norm.

If the current entertainment industry is one where consumers engage in music, movies, food, and more, in the future Korea must take a leap forward to become the center of the entertainment fandom industry, where consumers become partners with the artists and brands through collaborative activities.

Starting in December 2027, we will hold a glocal awards ceremony and festival called Fanomenonm, where artists, content, and brands that received the most love from the fans will be celebrated.

In addition, starting in 2028 we will expand this to a summer outdoor festival that tours major cities around the world.

Our goal is to create a new festival that can surpass Coachella.

— J.Y. Park

We look forward to how J.Y. Park will execute his plans.