Park Jin-young, co-chairman of the Presidential Committee on Cultural Exchange, addressed the controversy surrounding JYP Entertainment's trademark application for the government's K-culture project 'Phenomemon.' He stated, "It seems we used various methods out of a desire to do well, fearing that someone might take the trademark from us."
During a National Assembly audit of the Ministry of Culture, Sports and Tourism on October 7, Park responded to criticism from Rep. Bae Hyun-jin of the People Power Party regarding the overseas rights and the process of the Phenomemon project.
Park acknowledged that while it is not typical for a company like JYP to apply for a trademark and then transfer it to the government, it was done with good intentions. He admitted, "I think it was not a normal method."
Rep. Bae raised concerns about the allocation of overseas rights to JYP for a project that is backed by hundreds of billions of won in direct and indirect government funding. He pointed out that the dedicated corporation that will manage the project will include JYP and three other major agencies, questioning the lack of separate contracts or agreements to ensure public interest. He warned that the four major agencies could monopolize the project.
In response, Park argued that the agencies involved in Phenomemon are participating despite forgoing immediate profits. He explained, "If the representatives of the four companies perform separately during the Phenomemon event, they could earn two to three times more. Each company could make significantly more money if they held their own concerts." He added, "I asked YG, SM, and HYBE to participate, and while we are currently facing losses in the hundreds of millions of won, we decided to proceed due to the long-term vision and the potential benefits for other industries stemming from this initiative."
Minister of Culture, Sports and Tourism Choi Hwi-young also commented, stating that Phenomemon is a process of exploring how to collaborate with the four major agencies. He acknowledged that there were concerns due to limited disclosures during this process but emphasized, "The four major agencies are not here to seek profits from a government event."
Choi further explained, "This is a collaborative effort to leverage the global achievements of the four major agencies for K-culture. While I understand the concerns regarding the process of discussions, which differ from previous practices, I ask for understanding of the unique circumstances surrounding this project."
* This article has been translated by AI.
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