Park Jin-young ,,,,,, on 'Panomenon' trademark monopoly controversy: "Recognition of abnormal procedures, but no JYP profits"

Park Jin-young, founder of JYP Entertainment and co-chair of the Presidential Committee for Popular Culture Exchange (hereafter referred to as the Public Committee), voluntarily appeared as a witness at the National Assembly's Culture, Sports and Tourism Committee's audit of the Ministry of Culture, Sports and Tourism on the 7th, allegedly due to allegations raised over a sole trademark application for the mega-K-culture festival 'FANOMENON.' Park stated that the starting point for his public office participation and the 'Panomenon' initiative was an industrial 'crisis theory,' pointing out that "K-pop is gaining global popularity, but the industry shares a sense of crisis that it has reached its limit at this point." He continued, "The current K-pop should not remain just a success of individual IPs (intellectual property), but rather a sustainable platform built through public-private cooperation to take the next step forward," adding, "The urgency to build a national cultural platform beyond the short-term profits of individual companies is the root of this project." He himself named the 'Panomenon,' which he revealed to have named, will function as a platform that expands not only for large-scale K-pop performances but also to small agencies, fashion, beauty, food, and various other K-culture industries. However, the biggest issue in the audit was that the Public Affairs Committee had already filed the trademark rights for the large-scale festival 'Panomenon,' which is being held in December 2027 at Seoul Arena and Goyang KINTEX, acknowledging procedural limitations and bowing its head. ,,, He admitted, "The intention was to be cautious in case a third party might steal the trademark rights, but the method of applying through JYP's dedicated team in advance and handing it over to the government was clearly not normal." However, he dismissed suspicions of trademark monopoly and private gain. Chairman Park asserted, "I do not own the trademark rights, and nothing remains with JYP upon acquisition." The Ministry of Culture, Sports and Tourism also stated that domestic and overseas panomenon trademark rights are jointly owned 50% by the government and a joint venture of the planning company, and the generated profits are fully reinvested in the next exercise without shareholder dividends. It makes sense that there was no private interest in trademark applications???