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JYP Moves Forward With Overseas Trademark Application
The Presidential Committee on Cultural Exchange announced that JYP Entertainment is currently taking priority steps to file overseas trademark applications for “Phenomenon,” a global K-pop festival scheduled for December next year.
The committee said the move is intended to secure trademark rights in international markets before they are lost to other parties. It added that details on how the rights will be divided will be discussed and finalized after the overseas filing process is completed.
The overseas trademark rights are also expected to be transferred to a dedicated corporation that will be established to manage the festival, according to the committee.
Questions Raised Over Private Company’s Role
The trademark issue drew attention after TV Chosun reported that the “Phenomenon” trademark application had been filed by JYP Entertainment, the company of Park Jin-young, a co-chairman of the organizing committee and chief producer at the agency, rather than by the cultural exchange committee itself.
The report raised questions over whether it was appropriate for a single private company to hold overseas trademark rights for an event involving government funding.
Domestic Trademark Rights Shifted Toward Joint Ownership
The committee said the domestic trademark was originally filed by JYP Entertainment but was later changed to a joint application structure. Under the arrangement, JYP transferred half of its ownership stake to the Ministry of Culture, Sports and Tourism in line with the festival’s public-private partnership model.
The remaining ownership stake is also expected to be transferred to the future operating corporation for the event. The committee said it plans to establish measures to ensure public interests, including the reinvestment of operating profits from the festival, as it moves forward with the project.
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