Park Jin-young testifies at National Assembly audit

On October 7, Park Jin-young, CEO of JYP Entertainment and co-chairman of the Presidential Committee on Popular Culture Exchange, testified at a National Assembly audit to address controversies regarding his role and the ‘Fanomenon’ K-culture festival.

Addressing questions about his compensation, Park clarified that he was unaware of the specific monthly operational expenses he had received, which audits revealed to be approximately 2 million won. While he previously described his role as unpaid volunteer work, he expressed a desire to return the funds, though he maintained that establishing such expense standards is necessary to avoid placing an undue burden on future private sector appointees.

Regarding the trademark dispute, Park reiterated that JYP Entertainment’s filing for international trademarks was a preemptive measure to prevent third-party squatting, citing a lack of dedicated staff and budget within the committee. He stated that these trademarks would be transferred to the appropriate entity once a dedicated organization is established. He further argued that the four major K-pop agencies are sacrificing potential profits to support the project's long-term national benefits.

During the proceedings, Park also drew attention for his attire, wearing a see-through top under a grey jacket. While some viewed this as an expression of his identity as an artist, People Power Party spokesperson Cho Yong-sul criticized the choice as inappropriate for an official witness.

Park further denied allegations that the ‘Fanomenon’ festival serves as a political promotional tool, stating he does not work for any specific political party or administration. He refuted claims of favoritism by noting that participating companies could generate higher profits through individual performances rather than a collective event. President Lee Jae-myung expressed gratitude for Park’s dedication to exporting Korean culture, noting that the nation would remember his contributions despite the current scrutiny.