JYP Entertainment Producer and Singer Park Jin-young, Head of the Popular Culture Exchange Committee under the Prime Minister’s Office, Acknowledges Trademark Controversy over “Phenomenon,” Rebuts Allegations of Preferential Treatment: “We Gave Up on Bigger Profits” [Comprehensive Report]

*This content was translated by AI.View Original

Park Jin-young, Producer at JYP <a href="https://comicvibe.com/hoop-entertainment-adds-2-micro-dramas-to-jiohotstars-tadka/” title=”Hoop Entertainment adds 2 micro-dramas to JioHotstar’s Tadka”>Entertainment and Singer, who serves as Head of the Popular Culture Exchange Committee under the Prime Minister’s Office, appeared before the National Audit to clarify suspicions surrounding “Phenomenon.”

Park Jin-young appeared as a witness at the National Assembly Ministry of Culture, Sports and Tourism National Audit on the afternoon of the 7th.

Appearing with a bright smile at the National Audit that day, Park recited the witness oath. He then stated, “When Wonder Girls and I were at our peak, and when the company was doing very well, we gave up on the enormous profits we could have earned in Korea and went to the United States with just one dream.” He added, “There were many truly difficult moments, but I overcame them with tenacious perseverance, and ultimately achieved the joyful result of K-pop topping the Billboard Hot 100 for the first time in the history of South Korea in October of that year.”

He continued, “Ten years later, through the blood, sweat, and tears of artists and fans, it has become not uncommon to frequently top the Billboard charts. It has also become common to draw audiences of 50,000 or 100,000 at the largest concert venues.” However, he noted, “I felt that K-pop had reached a limit in its global popularity. While we were deeply considering how to join forces to build a system and platform here to leap to the next stage, we received a proposal from the government and began working together.”

He explained that the two most representative large-scale projects among these are the “Phenomenon Awards” or Festival project, and the establishment of K-Centers in major cities around the world.

A key issue at Park’s National Audit was the fact that the trademark for “Phenomenon,” a mega-event combining K-pop elements promoted by the Popular Culture Exchange Committee, had been filed under the name of JYP Entertainment (hereinafter JYP). This raised suspicions of trademark monopoly and preferential treatment.

The “Phenomenon” event to be held in December next year is a large-scale, privately driven event that combines K-pop concerts, fan award ceremonies, and exhibition/experience programs for K-culture companies. The name combines the words “Fan” and “Phenomenon,” signifying “the phenomenon created by fans.”

Addressing suspicions of preferential treatment, Park said, “If the four companies (JYP, HYBE, SM, YG) did not work together on the Phenomenon event and instead held separate events, each company could have earned two to three times more profit. It was extremely difficult to make them sacrifice that.” He added, “It would result in immediate losses of several hundred billion won. Seeing the long-term vision and considering the derivative effects for our country, everyone agreed to proceed. If we did not hold this event and each held their own, we could have earned even more money. Therefore, it is a bit difficult to say that we are receiving preferential treatment.”

He also clarified the circumstances behind JYP filing the trademark first. He stated, “Ideally, we should have prepared everything calmly after the organization was set up, checked the laws and regulations, and taken a year of preparation time to prepare steadily. However, from the perspective of someone working on the ground, changes were too significant over that one year.”

He continued, “There were many good opportunities, and there were crises.” He added, “While acting with good intentions, because JYP has a dedicated team, filing in advance and then handing it over to the government was certainly not entirely normal. But I wanted to do things very well. I did it for fear that someone might take it away. Because I tried so hard to match my intentions, I think I ended up using various methods. I believe it was an abnormal method.”

<© STARNEWS. All rights reserved. No reproduction or redistribution allowed.>

*This content was translated by AI.View Original

Recommended News

Editor’s Pick

Latest in Entertainment