Entertainment mogul: Starting his business with the internet

Chapter 410 Girlhood
Lee Boo-jin's decisiveness surprised Song Ci, but upon closer examination, her choice made sense.

Throughout history, feuds among wealthy families have been constant, and Samsung of South Korea is no exception.

"I toast to Miss Fu Zhen, no, I should toast President Fu Zhen." Song Ci raised his wine glass, the rich aroma of the wine lingering in his nostrils.

At this moment, I secretly wonder if this Samsung heiress truly lives up to her reputation and can successfully help Weibo gain a foothold in the South Korean market and defeat Twitter in one fell swoop.

Lee Boo-jin rose gracefully, a smile appearing on her cool face: "I toast the Chairman!"

She was humble and polite, after all, the future leader of the Samsung Group was her brother, and Weibo (South Korea) was the business she should devote herself to.

However, if Weibo is to flourish on the Korean Peninsula, support from the headquarters of the China Group is crucial.

Song Ci, as if bathed in a spring breeze, straightened her posture and said, "Shishi, Miss Lin, let's raise our glasses together."

"Cheers!" "Cheeris! Fu-jin, I wish you and Mr. Song a successful collaboration."

The crisp sound of clinking glasses echoed in the private room. As the glasses touched, the awkwardness between the two parties gradually dissipated, and the atmosphere became more and more harmonious.

The atmosphere was lively as everyone toasted and chatted.

As Song Ci cut his Chateaubriand steak with a knife and fork, he asked seemingly casually, "Could you two please introduce me to the three major entertainment agencies in your country: SM, YG, and JYP?"

Upon hearing this, Lee Boo-jin turned her gaze to her friend beside her.

She usually has limited knowledge of the entertainment industry, while her friend has long been involved in the fashion world and frequently interacts with many entertainment stars, so he must be quite familiar with the three major companies.

"Mr. Song is also interested in idol groups?" Lin Shiling's eyes shone brightly as she glanced at Song Ci with a captivating charm.

It's hard for a mature woman not to be captivated by the face of the richest man; for some, a single glance is enough to set her off for eternity.

“I am indeed somewhat interested.” Song Ci nodded with a slight smile. “After all, whoever controls the idol’s singing voice controls the heartbeat of young users. Of course, looks are also very important.”

“I understand what Mr. Song means!” Lin Shiling instantly understood Song Ci’s intention and said with a light laugh, “SM, YG and JYP are the three major entertainment companies, although they have different operating styles and music positioning.”

However, as the founders and leaders of Korean pop music culture, they share many significant commonalities in their core operating models, industry layouts, and globalization strategies.

As expected of the daughter of a top South Korean chaebol, Lim Se-ryung possesses a vision and perspective far exceeding that of ordinary people. Her opening introduction instantly attracted the attention of the richest man.

Song Ci put down her cutlery and said solemnly, "Please enlighten me, Miss Lin."

Lin Shiling paused briefly, as if organizing her thoughts, before launching into a fluent speech: "All three major companies have established highly standardized trainee systems."

The selection age is usually between 12 and 18 years old, and the training period lasts for 3 to 5 years. The training content covers multiple aspects such as vocal music, dance, language, physical management and artistic training.

In addition to a comprehensive selection and training system, all three companies have in-house production teams with highly distinctive musical styles, emphasizing visual presentation of music and using music videos as a key element of their communication strategy.

Song Ci listened intently and exclaimed, "Such an industrialized star-making model, their ambition is truly remarkable!"

Lim Se-ryung nodded in agreement: "The three major entertainment companies in South Korea adopt differentiated positioning in their internal competitive strategies."

SM Entertainment focuses on concepts, YG Entertainment emphasizes refining music quality, and JYP Entertainment prioritizes cultivating a friendly image. However, when facing international competition, the three companies often collaborate.

Liu Shishi and Lee Boo-jin listened attentively, gaining a deeper understanding of the landscape of the Korean entertainment industry through this conversation.

Liu Shishi, recalling Yuehua Entertainment, which her studio had invested in, asked curiously, "What are the main profit channels for the three companies?"

"All three companies are publicly listed companies. SM and JYP are strong, having successfully gone public in 2000 and 2001 respectively. YG, on the other hand, went public much later, just last year."

Concerts and merchandise sales are their main sources of income, and their idol groups have also secured numerous advertising endorsements.

SM Entertainment focuses on top-tier brand endorsements, YG Entertainment concentrates on the high-end luxury market, and JYP Entertainment, known for its emphasis on artists' sincerity and humility, is favored by national brands. However, the three companies have relatively little involvement in film and television projects and IP derivative development.

After gaining a basic understanding of South Korea's three major entertainment companies, Song Ci raised her most pressing question: "What about music copyrights?"

Lim Se-ryung quickly explained, "SM has the largest copyright library, holding the copyrights to nearly a million Korean songs. YG is second, and JYP has even fewer. If Mr. Song wants to acquire music copyrights, the key is to persuade one person."

Lee Soo-man?

“Exactly! Lee Soo-man, the chairman of SM Entertainment!” Lim Se-ryung raised an eyebrow. “Mr. Song, would you like to know what kind of person Lee Soo-man is?”

"Appreciate further details."

"Lee Soo-man's status and influence in the Korean entertainment industry are far beyond that of ordinary entertainment company bosses. He is the recognized 'Godfather of Hallyu'!" Lin Shiling's voice was filled with admiration.

"He pioneered the trainee system and the idol assembly line production model, launching South Korea's first idol boy group, H.O.T., in 1996, thus creating a business model of 'idol groups plus fan economy.'"

Song Ci praised: "I have heard a little about these news. Just based on the fact that he reshaped the Korean entertainment industry and laid the foundation for the pop music industry, he is worthy of the title of 'Great Leader of the Cultural World' in Korea."

Despite Lee Soo-man's mixed reputation in the industry and the rumors circulating in China that he forced artists to sign unequal contracts, his business acumen is undeniable.

Moreover, what does Lee Soo-man's personal reputation have to do with Song Ci? What he values ​​is the exclusive music copyright of the three major entertainment companies, which is crucial for future competition in the global short video market.

Thinking of this, Song Ci said, "If it's convenient, Miss Lin, please help me convey to Lee Soo-man that you'd like him to come to Beiping. Tengda hopes to cooperate with SM."

Lin Shiling revealed a knowing look and smiled slightly: "I have good news for Mr. Song! Lee Soo-man is currently in Paris, working on high-end endorsement deals for his groups such as Girls' Generation and EXO."

Song Ci's eyes lit up, and she immediately asked, "Miss Lin, could you...?"

Before she could finish speaking, Lin Shiling shook her head and interrupted, "This matter requires Fu Zhen to come forward."

Although her family's Daesang Group is a South Korean conglomerate, it is not in the same league as Samsung Group.

Despite Lee Soo-man's immense power in South Korea's cultural and entertainment circles, he dared not disrespect the Samsung Group.

"Don't worry, Chairman, I'll take care of this." Lee Boo-jin made a confident promise. Having just reached a cooperation agreement with Song Ci, it was time to demonstrate her strength.

Song Ci added, "The promotion of Weibo also cannot be separated from the help of idol stars. Weibo (Korea) can actively cooperate with the three major entertainment companies and use the popularity of idol groups to attract users."

The following morning, when Lee Soo-man arrived at the meeting room of the Four Seasons Hotel in Paris, Song Ci and Lee Boo-jin were already waiting inside.

"Mr. Song, Ms. Fu Zhen, I am so sorry to have kept you waiting." Lee Soo-man bowed slightly, his attitude extremely humble.

Ever since receiving Lee Boo-jin's call last night, he's been completely bewildered, wondering why Asia's richest man and Samsung's eldest daughter wanted to see him. Behind Lee Soo-man, the members of the girl group bowed in unison to the two of them.

Song Ci spoke fluent English: "President Li, please have a seat!"

After speaking, his gaze swept over several young and beautiful idol stars, and his brows furrowed slightly. He was about to speak when he said, "President Li..."

Lee Soo-man, who was always observant, took the initiative and turned to the Girls' Generation members, instructing them, "You guys go outside and wait for me."

Uncertain about Song Ci's intentions and considering that the other party might have some ideas about his artists, Lee Soo-man specially brought along the members of Girls' Generation.

After all, some business tycoons are quite fond of young and beautiful female celebrities, but this richest man in Asia does not seem to have such intentions.

The women left the reception room as instructed, and the moment the door closed, they couldn't wait to start whispering among themselves.

"Taeyeon unnie, what brings the president to see Mr. Song and Ms. Boo-jin?"

Team leader Kim Tae-yeon shrugged and said, "How would I know!"

Seohyun patted her chest, still shaken: "The president called us out so early in the morning, I thought..."

Lin Yoona rolled her eyes at Lao Jiu and said irritably, "What do you think this is? Unspoken rules? If the other party is Mr. Song, you're the one who's making a profit, okay? Just think about his assets of over 50 trillion won!"

The group exchanged glances, all seeing helplessness in each other's eyes.

To the public, they are glamorous superstars, but in the eyes of the tycoons, they are nothing more than exquisite vases.

If that moment ever came, they would prefer the other person to be Song Ci, after all, his face was just too handsome, making young girls' hearts flutter.

While the girls of Girls' Generation were lost in thought, Song Ci, a poet, had already begun negotiating a collaboration with Lee Soo-man in the reception room.

"SM can obtain a share of the revenue from its idol groups in the Chinese market, support for concerts, and rights to develop derivative products."

However, the prerequisite is that Tenda must become SM's "General Copyright Agent for China," obtaining exclusive authorization for all content, including audio tracks, music videos, and concert recordings.

As the first person to bring Korean pop culture overseas, Lee Soo-man had long planned to have his idol groups fully enter the Chinese market.

Therefore, they conducted an in-depth investigation into Tengda Group, a super giant in China's entertainment industry, and were very familiar with the influence of Song Ci poetry in China.

“Mr. Song, I am very willing to facilitate the cooperation between SM and Tenda Group, but I hope you can give SM more support.”

Song Ci squinted and asked softly, "For example?"

A glint of greed flashed in Lee Soo's eyes as he cautiously probed, "Could you help SM get the performance approval process approved?"

Song Ci lowered her gaze slightly, without giving a direct response.

Cultural promotion has always been a priority for higher authorities, even though relations between China and South Korea have been on a honeymoon period in recent years, with various cultural exchanges between the two countries flourishing.

However, he adheres to his principles and will not interfere with the matter of South Korean idol groups holding concerts in China.

"Tengda can provide ticketing resources and customize digital albums, but you need to go through the normal procedures for performance approval."

Lee Soo-man could not hide his disappointment. For SM Entertainment, concert revenue is the core source of profit.

If Tengda were willing to help expedit the approval process, allowing the company to hold several more concerts in China each year, the company's profits would increase significantly. However, this expectation has been temporarily dashed.

"Cooperation is about win-win. Li Shehui, if you have any other ideas, please feel free to share them."

Lee Soo-man's heart skipped a beat, and he carefully considered his words before tentatively asking, "Mr. Song, I wonder if SM could arrange for one or two artists to develop their careers in the Chinese film and television industry, just like Jang Nara did before?"

He reasoned that while the three major entertainment companies were dominant in idol creation, their film and television project resources had always been a weakness.

If SM Entertainment could send a few artists abroad to develop their careers and then "re-import" them back into the domestic market, it might be possible to cultivate one or two new film and television stars and explore a different path.

Song Ci readily agreed: "No problem at all." In the years that followed, quite a few South Korean stars came to China to develop their careers. Tengda Film and Television had abundant resources, so Lee Soo-man's request was just a small favor.

With the initial cooperation intentions reached, subsequent negotiations between the two parties became increasingly smooth.

Song Ci and Lee Soo-man discussed the strategic investment plan, and Lee Boo-jin also discussed with him the matter of SM Entertainment's stars joining Weibo (Korea).

The two proposals delighted Lee Soo-man. Tenda's investment would surely drive up SM's stock price, and the board members would definitely give it their full support.

As for celebrities joining Weibo, it's a risk-free business for him, as it can both broaden the artists' fame and allow them to connect with the Samsung Group.

It's an absolute win-win situation, considering Samsung is South Korea's top conglomerate and a company that every South Korean, from birth to death, can't escape!

As noon approached, both sides were quite satisfied with the outcome of the talks.

Lee Soo-man enthusiastically suggested, "Mr. Song, President Lee, would you do me the honor of hosting a lunch?"

Song Ci glanced at his watch and politely declined, saying, "Noon won't work; I have an appointment with my guests. How about we reschedule for the evening? My wife and I will host a banquet to entertain Chairman Li, President Fu Zhen, and Miss Lin Shiling."

He had an appointment with Henry Pinault in the afternoon to discuss Universal Music's acquisition of EMI Records, so he didn't have any free time.

"Thank you very much, Mr. Song. I will gladly accept your offer." Lee Soo-man was overjoyed. Seeing that Song Ci and Lee Boo-jin were talking about something again, he wisely took his leave without disturbing them and turned to leave the reception room.

Outside, the members of Girls' Generation were still waiting. As soon as Lee Soo-man came out, they greeted him in unison, "President!"

Lee Soo-man nodded slightly, his deep gaze sweeping over the pretty faces of the Girls' Generation members before finally settling on Yoona.

He then instructed, "Yoona, stay here. The rest of you, go back to the hotel."

Yoona was taken aback, and couldn't help but recall what her sisters had just been discussing. Her cheeks flushed instantly, and a faint sense of anticipation arose in her heart.

When the other girls heard that the president had kept Yoona behind, they couldn't help but think of something. They felt a mix of emotions and their eyes were filled with envy for their best friend's chance to rise to the top.

Lee Soo-man was unaware that the Girls' Generation members had misunderstood. After some deliberation, he tentatively decided to choose Im Yoon-ah to develop her career in the Chinese film and television industry, and wanted to ask Song Ci for his opinion that evening.

The girls turned back again and again, reluctant to say goodbye to Lim Yoon-ah, leaving Lee Soo-man completely confused. But was it really necessary to be so reluctant to part after only being separated for a short while?
On July 7, after finishing their business in Paris, Song Ci and Liu Shishi embarked on their journey back to China.

(End of this chapter)