YG Entertainment invests in world's largest EDM festival

YG Entertainment, one of South Korea's top three management agencies, said Wednesday it will invest in the world's largest electronic dance music (EDM) festival coming up in Seoul later this year.

YG said it will jointly invest in and produce Ultra Music Festival (UMF) Korea 2016 with UC Korea, which owns the license to host the festival in Asia.

The event from June 10-12 will invite more than 100 artists from all over the world, the agency added.

Skrillex, David Guetta, Tiesto and Snoop Dogg were on the line-up in 2012, the first time the festival was held in South Korea.

UMF started in Miami, Florida, in 1999, and is currently held in 11 cities, including Ibiza, Spain, Sao Paolo, Brazil and Buenos Aires, Argentina. (Yonhap)