With Bieber fever and Madonna frenzy reaching their apexes over the past 14 days as Coachella weekend 1 and 2 dominated social media feeds, music executives want in on the action. Industry heavyweights HYBE, SM Entertainment, JYP Entertainment, and YG Entertainment want to make their own version of Koreachella.

Slated to debut by 2027 in Seoul before going worldwide, the Big Four K-pop labels are working on ways to have a live scale event in Korea called FANOMENON. The focus would be on showcasing Korean culture to a global audience. Instead of having single artist concerts or fan meet-and-greets, FANOMENON’s plan is to bring out a huge lineup of Korean artists for the world to see.

Heading this ambitious venture is Park Jin-young, founder of JYP Entertainment. He has stressed that the labels are only in the beginning stages with a lot of details to get resolved as soon as possible. Coachella just had 160 artists taking to eight stages, so FANOMENON would need to get in that ballpark to be considered an equal. With the growth of K-pop and K-hop, this is the perfect time to get the biggest labels to sit down at the same table and try and make their mark on the global festival industry.

Check out 'Golden' at Coachella below.