Huayu: Starting from joining the mainstream entertainment industry in 96

Chapter 273, Section 271: A Turning Point

The negotiations reached a brief stalemate.

Zheng Taiyuan was unwilling to give up easily. He was interested not only in the movie "First Love", but also in the opportunity to establish connections with Wang Sheng and Shengying Media, a leading private film and television company in China.

He softened his tone and began to appeal to emotions and the long-term vision: "Mr. Wang, we can discuss the price further. I genuinely believe in this film and hope to use it as a starting point to begin a long-term partnership between Taiyuan Entertainment and Shengying Media."

The prospects for film and television cooperation between China and South Korea are broad. In the future, we can explore cooperation in depth on multiple levels, including co-productions, artist exchanges, and technological collaborations…

Wang Sheng listened to Zheng Taiyuan's grand plan, a faint smile remaining on his face. He was well aware of the pros and cons of cooperating with such speculators.

It may bring some benefits in the short term, but in the long run, if it cannot be effectively controlled, it is easy for the other party to take advantage of the rules.

"I have felt President Zheng's sincerity."

Wang Sheng spoke up at the opportune moment, interrupting Zheng Taiyuan's outlook: "The basis of cooperation is mutual benefit and win-win. My bottom line for the Korean rights to 'First Love' is four million US dollars."

This is based on my assessment of the film's value, and it is also my final offer.

If President Zheng finds this acceptable, we can continue discussing the details. If there are indeed difficulties, then I can only express my regret; perhaps other opportunities for cooperation will arise in the future.

Zheng Taiyuan's expression changed, clearly indicating an intense internal struggle.

Four million dollars was still far beyond his expectations, and the risks were enormous.

But considering the immense popularity of "First Love" in China, Wang Sheng's current status and influence in the Chinese film and television industry, and the potential benefits of establishing a connection with him...

After nearly a minute of silence, Zheng Taiyuan seemed to have made up his mind. He took a deep breath and looked at Wang Sheng: "Mr. Wang, four million US dollars... that price is indeed very challenging. But I trust Mr. Wang's judgment and the charm of the movie 'First Love'."

I need some time to go back and reconcile the figures with my team, and also to communicate with the Korean side regarding funding applications. Please give me a day or two, and I will definitely give you a clear answer, okay?

Wang Sheng knew that the other party needed time to calculate the risks and find more funding channels, so he wisely accepted the offer and stood up with a smile: "Of course. I look forward to good news from President Zheng."

……

After seeing Zheng Taiyuan off, Wang Sheng didn't take the matter too seriously.

He knew all too well the pace of dealing with these kinds of speculators; it was difficult to achieve any substantial results on the first meeting.

Time quietly slipped by until November 29th.

That evening, the "First China-Korea Song Festival," co-hosted by CCTV and South Korea's KBS, was broadcast as scheduled.

This gala, which brought together popular singers from both China and South Korea, garnered considerable attention in both countries.

When Kim Hae-shin stood on the dazzling stage and sang "Courage," the theme song of "First Love," with her clear and infectious voice, the sincere emotions and beautiful melody pierced through the screen and touched many Korean viewers.

"I've finally made this decision. I don't care what others say, as long as you agree..."

The lyrics, imbued with the courage to love, transcended language and cultural barriers through translation, ultimately resonating with listeners.

After the show aired, the song "Courage" unexpectedly gained considerable popularity in South Korea, especially among young netizens and music lovers.

SM Entertainment, a highly influential music company in South Korea (Note: At this time, SM Entertainment had already made a name for itself with idol groups such as H.O.T. and S.E.S., and was sensitive to popular trends), keenly noticed the potential of this song.

They believed the song's melody and emotional core were perfect for localization, so they contacted the artist through various channels to inquire about purchasing the Korean adaptation rights to "Courage." Korean adaptation rights typically include the right to translate the lyrics into Korean and recreate them in accordance with Korean rhythm and culture, as well as the right for a Korean singer to perform and release a Korean version.

……

Meanwhile, Jung Tae-won, who had returned to South Korea, was also quick to act.

He used his connections to visit officials at the Cultural Industries Bureau under the Ministry of Culture and Tourism, the Film Rating Committee responsible for film content classification and management, and the Korean Film Council.

He inquired in detail about the relevant policies and review procedures for importing Chinese films, as well as, most importantly, the specific conditions and amounts for applying for the "Cultural Industry Revitalization Fund" special subsidy for the "Introduction of Outstanding Foreign Cultural Products".

After receiving relatively positive feedback and confirming the feasibility of the operation, Zheng Taiyuan felt somewhat relieved.

Just then, he heard that SM Entertainment was interested in "Courage".

Zheng Taiyuan has an extremely keen business sense, and he immediately realized that this was an opportunity!
If movies and songs can be packaged together to form a "cultural product package," the story will be easier to tell when applying for subsidies, the value will be more prominent, and the popularity of the songs can even be used to support the movies!
Without further hesitation, he immediately booked the earliest flight to Beijing.

On the morning of December 1, Zheng Taiyuan sat in Wang Sheng's office again.

This time, he seemed more confident, but he still maintained a very humble attitude.

"Mr. Wang, after I went back, I conducted an in-depth assessment and went through a difficult fundraising effort."

With a sincere expression, Jung Tae-won said, "Considering our mutual sincerity in long-term cooperation and our shared desire to expand into the international market, I have finally decided to offer $3.5 million to buy out all the copyrights of 'First Love' in South Korea!"

This price is a huge improvement over the first million dollars, but it is still 500,000 dollars short of Wang Sheng's bottom line of four million dollars.

Before Wang Sheng could respond, Zheng Taiyuan immediately added, "However, I have a request. I hope that Mr. Wang can also sell me the Korean adaptation rights to the song 'Courage' as a package deal."

As you know, producing a foreign film in South Korea requires navigating many complexities, incurring high promotional costs, and I also need to cultivate relationships with various parties, including the Ministry of Culture and Tourism and the Film Rating Committee. The risks involved are enormous.

If we can promote the film along with this increasingly popular theme song, it will be a huge boost to the film's publicity and will also help me share some of the costs and risks.

He laid out his "difficulties" in a completely candid manner.

Wang Sheng watched Zheng Taiyuan's performance with perfect clarity.

He knew that the $500,000 difference in price, as well as his demand for song adaptation rights, were all tools and maneuvers Zheng Taiyuan used to gain greater profit margins for himself.

The so-called "greasing palms" and "huge risks" are nothing more than bargaining chips.

However, Wang Sheng also considered that buying out the South Korean copyright for $3.5 million was pure profit for a youth film that had already recouped its costs and made a fortune in China in this era.

Granting the rights to adapt the songs might actually boost the film's popularity in South Korea, which could be considered a form of cultural export.

Moreover, establishing connections with a local figure like Zheng Taiyuan would be beneficial for potential future collaborations.

Wang Sheng unconsciously rubbed the rim of his teacup with his fingers. After a moment's thought, a look of "understanding" appeared on his face, and he nodded: "President Zheng has it tough too. Alright, considering President Zheng's sincerity and our shared vision of expanding into the international market, three and a half million, plus the Korean adaptation rights to 'Courage,' it's settled then."

Upon hearing this, Zheng Taiyuan's face instantly lit up with joy, as if a huge burden had been lifted. He quickly stood up and extended both hands to Wang Sheng across the desk: "That's wonderful! Thank you so much for your understanding and support, Mr. Wang! It'll be a pleasure working with you!"

"It's a pleasure to cooperate with you." Wang Sheng also stood up, shook hands with him, and had an enigmatic smile on his lips.

(End of this chapter)