Hybe, the company behind the global K-pop phenomenon BTS, has embarked on its blockbuster girl group project, "The Debut: Dream Academy."

Marking the start of the new project, Hybe and its partner on the journey, Geffen Records, held a press conference on Monday at IGA Studios in Santa Monica, California.

Hybe founder and Chairman Bang Si-hyuk and Interscope Geffen A&M Records CEO and Chairman John Janick spoke at the event and addressed the initiative and plans for the project. Also attending were Geffen Records' US President Tom March, HxG's President Mitra Drab, HxG's Executive Creator Son Sung-deuk, HxG's Creative Director Humberto Leon and HxG's Head of Creative Production Jay Ihn.

"For a long time I've wanted to form an international group based on the K-pop methodology and develop them into a global girl group," Bang said during his speech on Monday, adding, "Today I'm happy to be sharing with all of you a dream of mine that I've kept for long."

The project, referred to in short as "Dream Academy," first came to light in November 2021 when Hybe and Geffen Records, a subsidiary label of Universal Music Group, announced their global audition.

The two firms launched the joint venture, Hybe x Geffen, to proceed with the project. Over 120,000 applicants threw their hats into the ring, and from them, 20 finalists were selected.

According to Bang and Janick, it was UMG CEO and Chairman Lucian Grainge who connected the two. The moment they met, they clicked both creatively and musically and began this journey of joint creation, they added.

"Chairman Bang has built in Hybe a company that in a lot of ways is similar to Geffen. Our shared commitment in helping artists develop, explore and express their talent at the highest level is the common ground we're now building upon with Hybe," Janick said on Monday.

The key significance of the project lies in nurturing global musicians through the K-pop training system in the US. Over the past few years, Hybe has been preparing for the project, acquiring major music labels Ithaca Holdings and QC Media Holdings, and joining hands with UMG.

"Most people think that the talent development process in the Western market and the training system in the K-pop are very different. But through this project, I've come to understand that these two systems actually share a key essence -- that is finding incredibly talented artists and watching their growth," Bang said.

He added: "The time has come to keep growing and expanding our core principles in a big and bold new way. At Hybe, our core values are finding, nurturing and developing talented artists and that is the same for Geffen. ... Applying the K-pop methodology, which is a global phenomenon, we have embarked on this new journey to create an international, diverse and exciting group of talented performers."

The contestants were revealed for the first time on Monday. Twenty women from 12 countries -- South Korea, the US, Japan, Brazil, Argentina, Switzerland, Sweden, Slovakia, Belarus, Thailand, Australia and the Philippines -- between the ages of 14 and 21, took the stage and introduced themselves in English and each of their languages.

According to Janick, they have already trained together for the past year. The "Dream Academy" project shares the final 12 weeks of the selection process. Between Sept. 2 and Nov. 18, the contestants will go through three missions and a live final show to make it onto the debut team.

"They have diverse cultural backgrounds, and their activities in the same way will not be confined to the US. They will strive to show their best performance in countries and cultures connected to their individual talents. And they will not forget their respect for K-pop because they have grown as artists following the K-pop methodology. In that sense, Korea will be a very important country for our group," Bang elaborated.

The project will make full use of social media platforms. All the missions and the preparation process will be unveiled on numerous social media sites, including YouTube, Instagram and TikTok. Around 100 pieces of short-form content are set to be released during the period, and the final show is set to be aired live on Nov. 18 via YouTube and Weverse. An official fan community where the contestants and fans can communicate directly also opened on Tuesday.

A Netflix docuseries following every step of the 20 trainees on their way to their debut is also set to air in 2024.