Peninsula Platinum Era

Chapter 86 The Little Snake in a Downward Situation (Please Subscribe)
"With talent like this, how could Big Hit not be strong! They're the biggest company in the industry now."

At this moment, Little Snake had no idea that Big Hit's success had absolutely nothing to do with Chen Shijun, who had only been with the company for a few months.

In her eyes, it was all thanks to Chen Shijun. As for the fat pig standing next to him and the seemingly cunning Park Ji-won, they were nothing but useless cowards.

"Look at our company, look at what it's become! They're stuffing all sorts of people with connections in here. Do you think she can handle it?"

Then compare him to Lee Sung-soo from his own company. They're both executives, so why is there such a big difference? Plus, Lee Soo-man, who was pulling the strings behind the scenes, made a complete mess of the debut plan.

Compared to them, they're practically insects. How can K-pop possibly succeed with these guys? The world belongs to the young.

"Don't say anything more! You're too bold. If word gets out, you'll be dead."

Strictly speaking, we're still competitors, so aren't we afraid that someone might have bad intentions and make a recording or something? That would be a disaster.

Zhimin seemed to realize something was wrong, and kept eating with her head in her bowl. The things she used to talk about with her girlfriends were very juicy, but hopefully no one would leak them out.

She missed Chen Shijun terribly during the few days he was away from the country. They hadn't known each other for very long and had only met a few times, but this bad man had almost bewitched her.

She never imagined she would be like this, pinned down on the sofa by Chen Shijun. Now, thinking about it, her face is still red. Could it be that he didn't take her seriously at all?

He only treated her as one of his playthings, a big, brainless toy. But her little girlish scheming was completely ineffective against Chen Shijun's shrewdness, and some of his conventional moves were no match for her.

Sometimes it's not that she doesn't want to try to woo Chen Shijun like a normal dating relationship, but rather that he simply doesn't fall for her tactics. Given the disparity in their social status, many of her techniques simply don't work.

However, this means we can only take another path: make him like us more. The little snake felt she had that ability.

Levvels' decision to register in Los Angeles is not without reason. Big Hit has now obtained operating licenses in the United States, allowing the joint venture to directly conduct compliant NFT business in the global market.

Meanwhile, Los Angeles is also the center of the global entertainment industry, and Big Hit is actively acquiring some entertainment companies in the United States to integrate resources nearby and expand into the European and American markets.

Of course, this is just an excuse to some extent. The biggest problem is that non-South Koreans are prohibited from buying and selling cryptocurrencies in South Korea, while digital collectibles of Kpop idols must support global fan trading and interaction.

Chen Shijun's briefcase was stuffed with a thick stack of compliance analysis reports. South Korea's Virtual Asset User Protection Act acted like an iron curtain, blocking the financialization path of this NFT project.

California's relaxed regulatory environment became the only way out. In his temporary office in Santa Monica, Chen Shijun held video conferences with his legal team in Seoul every day at dawn.

The concept of trading platforms banned in South Korea has been dismantled and recombined, and defined as digital collectibles communities, in order to circumvent accusations of financial attributes.

"Big Hit is indeed an expert at exploiting legal loopholes. I feel that Bang Si-hyuk is bound to crash and burn somewhere in the future."

Secretary Eun-hye got up very early today and was checking her makeup in the mirror. She was going to accompany Chen Shi-jun to a meeting later, so she couldn't afford to look her best.

"We are not exploiting loopholes, we are building a bridge connecting two worlds."

Chen Shijun took a sip of coffee. In cross-border collaborative cases like this, time difference is indeed an unavoidable problem, which is quite troublesome even for someone as energetic as him.

In fact, Chen Shih-Chun had another idea: if this matter succeeded, could it force the Ministry of Culture, Sports and Tourism to revise the "Cultural Industries Promotion Act" to at least conditionally open up NFT trading and further expand the company's scope?

"What's that saying? When a high wall appears, someone will find a way to build a higher ladder." In short, there's always a way to circumvent policies. If you want to harvest the wallets of young people, you must face the deep-seated contradictions of the digital transformation of entertainment.

In reality, this way of digitizing the economy of physical mini-cards can still be described as robbery. Don't worry about conscience when you're doing this.

By stimulating speculation through rarity, the influence of idols is legitimized, with the aim of further profiting through secondary market transactions.

However, if we're talking about heartlessness, that fat guy is the real heartless one. He signed the IPO audit contract at the end of last year, but he's been hiding the progress from the outside world.

He induced early investors to sell their shares at low prices, and his relatives and confidants set up a private equity fund to take over these shares, and signed some secret agreements.

If the stock price soars after the IPO, he will make huge profits through these operations, but if caught by the Financial Supervisory Service, he will also face many criminal charges.

Ultimately, it's because Big Hit follows the founder-centric model of entertainment companies, with power highly concentrated in the hands of this fat man—a problem that seems to be common in the industry.

Lee Soo-man of SM Entertainment and Yang Hyun-suk of YG Entertainment both seem to have this kind of moral hazard under centralized control, and Chen Shijun also felt that the governance structure of entertainment giants is very fragile.

"But boss, are you really that optimistic about this project?"

Chen Shijun remained silent in the face of his secretary's voice, because the core of this matter was to make fans feel like they were being served, rather than treating them as mere leeks. No matter how exquisite the basic packaging, it would be difficult to gain their approval.

The related policy risks are also quite significant, and the global cryptocurrency market is also an uncertain factor. If the fan ecosystem cannot be integrated, then nothing can be discussed.

Even those who don't run a company know that the core of the content industry is emotional connection. If you want to get money out of someone's pocket, you can't ignore their emotional needs.

This is a principle that even fraud gangs understand. Hopefully, Fang Shihe won't let success go to his head, at least not for now.

The $50 million in seed funding promised by Big Hit and Dunamu will be disbursed over four quarters. Once all the contracts are signed in the next couple of days, I will return to South Korea to await the platform's official launch.

Even at this point, Bang Si-hyuk still insisted on not relinquishing his supervisory responsibilities over Source Music, as the company's chief strategy officer, responsible for overseeing all company affairs.

Su Chengzhen also hopes that he will not give up his attention to Source Music, regarding it as a banner against Ms. Min and a key to advancing the "S Team Project".

Levvels doesn't seem to be that core or crucial to them either. Both Big Hit and Dunamu want to gain more control over it, even though Big Hit holds a larger stake.

Besides each of them serving as a representative council member, both sides have also established their own seats in the power system. This is not a gamble, but more like an experiment.

"That little girl is really interesting. She keeps thanking Director Chen for his kindness. I really want to see how she will react if I give her that little trinket."

Xiaochi didn't dare to bother Chen Shijun, but expressed her gratitude through Secretary Enhui, which made Ms. Zhiduoxing show some strange expressions.

Touching the faint red mark on his neck, Chen Shijun was a man who cherished women and didn't show any special feelings towards the girl. Perhaps he simply liked her impulsiveness.

If that day ever comes, I wonder if Kim Min-chi will be frightened, and what kind of terrified expression will appear on her little face? I'm really curious.

　Please subscribe! Extra chapter tomorrow!

　　
　
(End of this chapter)