KWAVESCOPE · AGENCY GUIDE 30
P NATION
The company founded by PSY is preparing a Japanese business base, with Warner Music Japan supporting Baby DONT Cry’s first Japanese album.
Last reviewed November 1, 2026. The Japanese company’s status below is based on its October 26, 2026 announcement. A planned launch or announced release is not described as already completed. Back to all K-POP Agencies ↗
The four-part Korea–Japan business structure
| Role | Organization | What has been confirmed |
|---|---|---|
| Founder | PSY (Park Jae-sang) | Singer, producer and founder of P NATION |
| Korean company | P NATION Co., Ltd. | South Korean artist-management and music-content company established in October 2018; publicly launched in 2019 |
| Japan operations | P NATION JAPAN | Japanese subsidiary / business base under incorporation preparation as of the October 26, 2026 announcement |
| Japan label partner | Warner Music Japan | Japanese label partner for Baby DONT Cry’s announced debut mini album, not evidence of an exclusive deal covering all P NATION artists |
At a glance
| Company detail | Current reference |
|---|---|
| Name | P NATION (피네이션) |
| Founder | PSY (Park Jae-sang) |
| Legal-company establishment | October 29, 2018, according to the JobKorea corporate profile |
| Public agency launch | Announced January 2019 |
| Korean office | 21 Nonhyeon-ro 151-gil, Gangnam-gu, Seoul, South Korea (JobKorea listing) |
| Employees | 93 as of December 31, 2025 (JobKorea company record) |
| 2025 revenue | KRW 72.49 billion (approximately 724.9억원) |
| 2025 operating result | KRW 11.31 billion operating loss |
| Japan expansion | P NATION JAPAN incorporation being prepared as announced October 26, 2026 |
| Japan debut partner | Warner Music Japan, initially confirmed for Baby DONT Cry |
Why PSY established P NATION
PSY had already become a global star through “Gangnam Style” when he founded P NATION. Established in October 2018 and introduced publicly in January 2019, the agency gave him a place to develop new music and support other performers. What began with a famous founder has since grown into a label with its own mix of solo artists and groups.
The company combines music releases, artist management, live performances and content development. Its published roster also makes the musical range clear: performers such as CRUSH and HWASA work alongside newer projects including TNX and Baby DONT Cry. Not every artist is signed under an identical distribution agreement or for the same territories.
P NATION JAPAN: what is established and what remains in preparation
On October 26, 2026, P NATION outlined plans for a dedicated Japanese operation. The local team is expected to coordinate artist management, advertising partnerships, casting, events and media appearances. The aim is to work directly with Japanese partners and audiences while staying closely connected to the company’s Seoul headquarters.
Important status distinction: the same announcement explicitly described P NATION JAPAN as still preparing incorporation as a Japanese joint-stock company. An associated PR TIMES corporate profile lists a Tokyo business address and October 2026 registration information, but this does not supersede the release’s statement that corporate formation was still in progress. Its completed legal registration should be checked through a later official update before being described as finalized.
| Korean headquarters | Japan operating base | Japanese record-label partner |
|---|---|---|
| P NATION — artist management, music and corporate direction | P NATION JAPAN — planned local coordination, promotions, casting, events and media | Warner Music Japan — Japanese recorded-music release and label support confirmed for Baby DONT Cry |
The Japan-side PR TIMES company profile lists 4F, L.Biz Nihonbashi, 2-9-10 Nihonbashi, Chuo-ku, Tokyo as a contact location. This is a business listing, not confirmation of a public office opening or an invitation to visit. P NATION’s Korean address is listed separately in Seoul.
Warner Music Japan partnership: the confirmed scope
The first announced project is Baby DONT Cry’s Japanese debut. The group is scheduled to release the mini album DAYBREAK/Replay -Japanese Ver.- through Warner Music Japan on January 20, 2027. P NATION is preparing a local Japanese operation alongside that release, with Warner Music Japan named as its record-label partner.
The original announcement also schedules “Replay -Japanese Ver.-” for November 4, 2026, alongside a Korean-language release of “Replay” in South Korea on the same day. As of this review on November 1, both the advance track and the January album are forthcoming; the article does not claim either has already been released.
This partnership should not be stretched into a blanket claim that Warner Music Japan exclusively manages or distributes every P NATION performer. No such company-wide contract is established by the cited Baby DONT Cry announcement. Artist management, local promotions and record distribution are related, but legally distinct functions.
Baby DONT Cry and the first Japanese expansion project
Baby DONT Cry debuted in South Korea on June 23, 2025, with “F Girl.” The four members are YIHYUN, KUMI, MIA and BENI, including two Japanese members. The group’s existing experience performing in Japan provides a starting point for its next release, although the Japanese debut will be a new chapter rather than a repeat of its Korean launch.
Their Japanese launch is set to include original material as well as Japanese-language versions of previous tracks. The announced mini-album track list includes “DAYBREAK,” “Replay -Japanese Ver.-,” “F Girl -Japanese Ver.-,” “I DONT CARE -Japanese Ver.-,” “Shapeshifter -Japanese Ver.-” and “After The Rain.” The distinction between a new track and a newly recorded Japanese version helps readers understand what the release actually contains.
The project shows how the three organizations are expected to divide their work. P NATION in Korea remains responsible for its artists and overall direction; the planned Japanese operation would help coordinate local activity; and Warner Music Japan is the confirmed record-label partner for this album.
Current artist roster and KWaveScope A–Z connections
P NATION’s official artist page currently lists seven acts. Verified KWaveScope artist profiles are linked below; other names are not assigned invented URLs. Group membership, solo contracts and historical associations are kept separate.
| Artist | Role / current official listing | KWaveScope artist profile |
|---|---|---|
| PSY | Founder and solo artist | Profile link not yet verified |
| CRUSH | Solo singer and recording artist | CRUSH artist profile ↗ |
| TNX | Boy group | Profile link not yet verified |
| HWASA | Solo singer and MAMAMOO member | HWASA artist profile ↗ |
| AN SHINAE | Singer-songwriter | Profile link not yet verified |
| DANIEL JIKAL | Solo performer | Profile link not yet verified |
| Baby DONT Cry | Four-member girl group; Japan debut scheduled in 2027 | Profile link not yet verified |
Roster source: P NATION’s official artist list ↗, checked for this November 1, 2026 review. Earlier artists such as HEIZE or SWINGS may appear in older P NATION promotional posts; they are not added as current roster members without a newer official listing.
P NATION revenue, operating results and company scale
P NATION’s business size is substantial for a founder-led Korean entertainment company. According to JobKorea’s financial profile for the legal company, revenue reached roughly KRW 79.67 billion in 2023 before easing to KRW 72.49 billion in 2025. Its 2025 revenue was about 6.9% lower than a year earlier, while its operating loss grew from approximately KRW 2.43 billion to KRW 11.31 billion.
| Fiscal year | Revenue (KRW bn) | Operating result (KRW bn) | Net result (KRW bn) |
|---|---|---|---|
| 2023 | 79.67 | (6.66) | (6.67) |
| 2024 | 77.87 | (2.43) | (2.68) |
| 2025 | 72.49 | (11.31) | (10.64) |
Parentheses indicate losses; values are rounded to two decimal places in billions of Korean won. The 2025 profile also lists 93 employees at December 31, 2025, total assets of approximately KRW 29.51 billion and equity of approximately KRW 24.21 billion. These are figures for P NATION’s Korean legal company, not the new Japanese venture or Warner Music Japan.
Revenue, profit and assets answer different questions. An operating loss does not by itself mean that an agency is insolvent, and total revenue cannot be translated directly into an artist’s earnings. The present corporate financial table is historical; no 2026 full-year financial results have been assumed.
Financial sources: JobKorea’s P NATION Co., Ltd. corporate profile and annual financial-information table for 2023–2025, including December 2025 workforce and balance-sheet information. Rounded figures are presented for editorial comparison; check later company filings for restatements.
Company and Japan-expansion timeline
| Date | Milestone |
|---|---|
| October 29, 2018 | P NATION corporate establishment, according to the Korean business listing |
| January 2019 | PSY publicly announced his new entertainment agency |
| May 2022 | TNX made its official debut |
| June 23, 2025 | Baby DONT Cry debuted in South Korea with “F Girl” |
| October 26, 2026 | P NATION JAPAN announced preparation for Japanese incorporation and its first debut project |
| November 4, 2026 (planned) | Advance release of “Replay” in Korean and Japanese versions |
| January 20, 2027 (planned) | Baby DONT Cry Japan debut mini album through Warner Music Japan |
Korean headquarters and Japanese business location
P NATION’s Korean business-directory address is 21 Nonhyeon-ro 151-gil, Gangnam-gu, Seoul. The Japanese PR TIMES company profile gives a business address in Nihonbashi, central Tokyo. Both are private work locations rather than public fan attractions, and the Japanese incorporation process should be confirmed again before relying on its registered status.
Official sources and useful links
P NATION — official Korean company website ↗ · Current artist roster ↗ · P NATION JAPAN — October 26 official statement ↗ · Warner Music Japan — Baby DONT Cry artist page ↗ · JobKorea corporate financial data ↗.
Logo: P NATION, sourced from Wikimedia Commons’ public-domain geometric text-logo file. Artist photos are not reproduced in this company guide; use individual verified artist pages for artist images and their distinct photo credits.
Frequently asked questions
Who founded P NATION?
PSY (Park Jae-sang), the Korean singer and producer known internationally for “Gangnam Style,” founded the company.
Is P NATION JAPAN fully incorporated?
The October 26, 2026 announcement said incorporation was being prepared. This article does not treat the process as completed.
Is Warner Music Japan P NATION’s exclusive Japanese partner for all artists?
The verified partnership concerns Baby DONT Cry’s announced Japanese debut release. An exclusive, company-wide arrangement has not been established by the announcement.
When will Baby DONT Cry debut in Japan?
Its debut mini album is scheduled for January 20, 2027, with an advance Japanese-version track scheduled for November 4, 2026.
What were P NATION’s 2025 sales and operating results?
Approximately KRW 72.49 billion in revenue and a KRW 11.31 billion operating loss, according to the Korean company information profile.
Does P NATION JAPAN manage Baby DONT Cry’s Korean releases?
P NATION Korea remains the Korean entertainment company. The announced Japanese entity is intended to support local Japanese business operations, while Warner Music Japan is the confirmed Japanese label partner for the debut release.
What to watch next
The next dates to watch are November 4, 2026, for the advance release of “Replay,” and January 20, 2027, for the Japanese mini album. A separate announcement confirming P NATION JAPAN’s completed incorporation would also clarify when the planned local entity becomes fully established.