Park Jin-young addresses Fanomenon controversy at National Assembly audit

Park Jin-young, co-chair of the Presidential Committee on Popular Culture Exchange and founder of JYP Entertainment, testified voluntarily at a National Assembly audit to address allegations of preferential treatment regarding the upcoming global K-culture festival, ‘Fanomenon’.

Lawmakers questioned why JYP Entertainment filed for the festival's overseas trademarks and why the four major K-pop agencies—SM, JYP, YG, and Hybe—formed a joint venture for the project. Park explained that JYP filed the trademark hastily to prevent third-party theft and stated that the companies are sacrificing significant potential profits to support the project's long-term national benefits.

Park also addressed discrepancies regarding his compensation. While he previously stated he served without pay, audits revealed he received approximately 2 million won monthly in official expenses. Park clarified that he was unaware of these specific payments and noted that such expenses are necessary for official duties to avoid placing undue pressure on future successors. He emphasized that his work is dedicated to the advancement of Korean culture rather than any political affiliation.