Big Hit Entertainment and Universal Music Group (UMG) on Feb. 18 announced a new strategic partnership via VenewLive, a digital streaming platform. From left clockwise are Big Hit Chairman Bang Si-hyuk, UMG Chairman and CEO Sir Lucian Grainge, Geffen A&M Records CEO John Janick and Big Hit CEO for global and business operations Lenzo Yoon. (Screen capture from Big Hit Label's official YouTube channel) 

By Sarah Oqelee and Kim Minji 

Big Hit Entertainment, the management agency of K-pop phenom BTS, and Universal Music Group (UMG), one of the top three record labels in the U.S. have announced plans to jointly form a global K-pop boy band to debut in America.

In an online news conference on Feb. 18, the two companies said they will form the boy band through a global audition program.

Lenzo Yoon, Big Hit CEO for global and business operations, said, "This project is a new challenge for both Big Hit and UMG," adding, "The result will transcend the partnership between the two companies and the combination of two industries to become the fusion of cultures."

Universal Chairman and CEO Sir Lucian Grainge said, "We are thrilled to be working together as we launch a new joint venture between our companies that will further accelerate K-pop as a global cultural phenomenon.”

The two companies will also launch a joint venture based in Los Angeles to promote the project.

A global audition program to air next year will select the new boy band's members in collaboration with a major U.S. media partner.

sarahoqelee@korea.kr