skz 5th generation help!

hi guys!!
i am a baby stay of only 1 year and was just curious on this. recently stray kids just released their 5th generation STAY welcome video and i'm interested on what this means? more so, the implications behind the 'recruiting period' and what not. if i am not mistaken, is this about the jyp FANS app? what does this fan membership entail? i also saw some old posts about fan meetings and what not so if someone would be patient and kind enough to give me a run down -- it'd be greatly appreciated :)) thank youuuu