The company CJ E&M has just announced the launch of their jumbo-sized K-pop project 'Boys24'. They have invested 25 billion won (nearly $21 million U.S.) into this project, so it really is jumbo-sized to say the least.

This will be a new K-pop performance project where 24 specially selected male trainees, after passing an audition and receiving training, will hold live performances for 365 days straight at their permanently established concert venue.

'Liveworks Company', which Shinhwa's Hyesung and Minwoo are in, will take part in management.

'Boys24' will begin their K-pop performances in August at the Popcorn Hall in the Mesa Building in Myeongdong, Seoul. There will be a variety of performances as the showcase performances are said to be joined with 'Cirque de Soleil'. There will be K-pop, musicals, acrobatics and more joined together for all kinds of content, which is predicted to attract foreign tourists.

And before the performances begin in August, there will be a broadcast revealing the audition program, featuring the selection process, training and performance preparations. The company explains that this isn't a debut of a new idol group, but a new kind of Hallyu performance.

SEE ALSO: Netizens discuss rumors of new 4-member JYP Entertainment girl group

Are you excited for this one of a kind K-pop project?