Huayu: Starting from joining the mainstream entertainment industry in 96

Chapter 288, Section 286: Tripartite Agreement

It was the last day of March 2000.

The temperature in Beijing has warmed up, the poplar trees along the roadside have sprouted tender green buds, and the air is filled with the unique vitality of spring.

At the Beijing Hotel, located on East Chang'an Avenue, a signing ceremony that has garnered significant attention within the industry but has maintained a low profile to the public is about to be held in one of its conference halls.

This signing marks another breakthrough in film co-production between mainland China, Hong Kong, and South Korea, and represents a solid step forward for Wang Sheng's Shengying Media system in its international cooperation efforts.

At the heart of the agreement is the South Korean co-production remake of "Happy Family" that Wang Sheng had previously discussed and agreed upon with Zhou Xingxing and Zheng Taiyuan.

For the past two weeks, the teams from all parties, especially the legal and foreign affairs departments of Shengying Media and Beijing Film Studio, along with relevant partners, have been running around tirelessly to secure this agreement.

In 2000, facilitating a co-production involving creators from Mainland China, Taiwan, Hong Kong (Hong Kong Island), and South Korea required navigating numerous complex departments and procedures.

First, the approval of the State Administration of Radio, Film and Television (SARFT) Film Bureau is required for the establishment of a co-production project.

To this end, Shengying Media, as the main Chinese applicant, prepared a project application that was hundreds of pages long, detailing the background of the cooperation, the story outline (a version that retains the core settings but is adapted for localization), the investment ratio and composition of the three parties, the list of main creative personnel (specifying nationality/region), the shooting plan, market analysis, and the significance of cultural exchange.

The key is to clarify the nature of the "Hong Kong capital" (Zhou Xingxing's part) and the "Korean capital" (Jung Tae-won and the Korean institutions' part) and prove the legality of their funding sources.

At the same time, the script must be submitted to the Script Center of the State Administration of Radio and Television for review to ensure that the content conforms to the national conditions and does not touch on sensitive issues such as politics, ethnicity, and religion.

Since it is a remake of "Happy Family," which was approved and released by Shengying Media, and the new script framework has been reviewed and controlled by Wang Sheng, this process went relatively smoothly.

Secondly, regarding the Hong Kong partner (Stephen Chow), it is necessary to file and communicate with the Hong Kong, Macao and Taiwan Affairs Office of the State Administration of Radio, Film and Television in accordance with the relevant film cooperation policies under the framework of the Closer Economic Partnership Arrangement (CEPA) between the Mainland and Hong Kong (although CEPA was only formally signed in 2003, there were similar cooperation prototypes and guidelines in the early stages) to clarify the rights and responsibilities of the Hong Kong side in the cooperation.

Furthermore, the introduction of South Korean capital and creative personnel falls under the category of Sino-foreign co-production.

In accordance with regulations such as the "Regulations on the Administration of Sino-Foreign Co-productions of Films," it is necessary to coordinate with the International Cooperation Department of the State Administration of Radio and Television to explain the qualifications of the foreign partners, the cooperation model, and ensure that the project aligns with the purpose of cultural exchange.

Foreign key cast and crew members (such as the confirmed Korean director and lead actor Cha Tae-hyun) who come to China to participate in some preparatory meetings or post-production work need to apply for the corresponding visa (such as a Z visa or an M visa) in accordance with regulations, and obtain an invitation letter from the Chinese partner (Shengying Media) to complete the relevant procedures such as the "Foreigner's Employment Permit in China".

In addition, cross-border capital flows must also comply with regulations.

Investment funds from South Korea must be reviewed by the State Administration of Foreign Exchange to ensure that the source of funds is clear and complies with foreign exchange management regulations.

If any revenue from the film needs to be remitted in the future, it must also be handled in accordance with regulations.

Throughout the process, China Film Group, as a state-owned enterprise with management and service functions for international co-productions, also provided important coordination and support.

Han Sanping, who is about to take another step forward, played a key role in promoting the project, ensuring its efficient flow within the system and giving it the green light all the way.

It can be said that this final agreement on the signing table embodies not only the business wisdom of the three parties, but also the result of countless communications, stamping, approvals and compliance reviews.

It is a highly exemplary case within a specific historical period and policy framework.

At 10:00 AM sharp, in the conference hall of the Beijing Hotel.

Surrounded by flowers, the backdrop prominently displayed the words "Signing Ceremony for the Cooperation Project of the Film 'Happy Family' (China-Korea Co-production)" in both Chinese and Korean.

Reporters from several strictly controlled official and industry media outlets set up their cameras, waiting to record this moment.

Wang Sheng, dressed in a dark, fitted suit, exuded composure and delivered the opening remarks as the host and the project's core driving force.

He stood in front of the microphone, his gaze sweeping over the few but distinguished guests in the audience—including representatives from relevant departments of the State Administration of Radio, Film and Television, heads of China Film Group, and leaders of film co-production companies.

"Distinguished leaders, honored guests, and friends from the media," Wang Sheng's voice was clear and composed: "Today, we gather here to witness a new starting point for film cooperation. Shengying Media, together with Beijing Film Studio, a subsidiary of China Film Group, Mr. Stephen Chow from Hong Kong, and Mr. Jung Tae-won, President of Tae-won Entertainment from South Korea, have officially reached an agreement on the Sino-Korean co-production project of 'Happy Family'."

He briefly reviewed the success of the original "Happy Family" in the domestic market and the success of "First Love" in South Korea.

"Film is a language that transcends borders and a bridge that connects hearts. This collaboration is not simply a matter of capital accumulation or copyright transactions, but a profound cultural integration and creative collision."

We firmly believe that by grounding ourselves in excellent local stories, combining the industrialized production experience of our South Korean counterparts with the commercial acumen of Hong Kong filmmakers, we can create a masterpiece that will not only move Asian audiences but also embody the value of cultural exchange.

Wang Sheng's speech was insightful and fully aligned with the national policy of promoting culture abroad and strengthening international cultural exchanges, winning the approving glances of the leaders in the audience.

Next, it was Stephen Chow's turn to speak. He was dressed in a formal suit, his hair meticulously combed, but his eyes betrayed his anxiety about the progress of the *Shaolin Soccer* project. He took the microphone and spoke in heavily accented Mandarin:

"Thank you to all the leaders and President Wang Sheng. I am very happy to be able to participate in this collaboration. The story of 'Happy Family' is very touching and has great potential. I believe that through the efforts of all three parties, we will definitely be able to create a successful film."

His speech was brief and pragmatic, with almost no unnecessary pleasantries. After finishing, he politely handed the microphone back, clearly indicating that his mind was already on the upcoming production of "Kung Fu Soccer".

Finally, there's Jung Tae-won.

He looked exceptionally sharp today, dressed in a well-tailored suit. After giving a slight bow to the Chinese officials present, he spoke in Korean, with simultaneous interpretation provided by the interpreter beside him:
"Distinguished Chinese leaders, President Wang Sheng, and Mr. Zhou Xingxing, on behalf of Taewon Entertainment of South Korea, I am deeply honored to participate in this historic collaboration!"

The success of "A Little Thing Called First Love" in South Korea has demonstrated the immense appeal and market potential of Chinese films. This co-production marks a significant step in deepening cultural exchange between South Korea and China.

We will dedicate our utmost efforts to integrating the best production resources in South Korea and working closely with our Chinese and Hong Kong partners to ensure the project's artistic quality and market returns!

His speech was full of passion and commitment, expressing the South Korean side's high regard for this cooperation and its expectations for the future market.

After the speeches, the most crucial moment arrived.

Staff members guided Wang Sheng (representing Shengying Media and Beijing Film Studio), Zhou Xingxing, and Zheng Taiyuan to the signing table.

Three gold-plated agreements have been laid out.

According to the terms confirmed in the final negotiation:

The total investment for the project is one million US dollars.

The investment composition and equity percentage are as follows:

Shengying Media and Beijing Film Studio invested a total of US$500,000, based on the original film copyright of "Happy Family" and cash, holding 30% and 20% of the shares respectively.

Stephen Chow invested $200,000 in cash, acquiring a 20% stake.

Taewon Entertainment and other South Korean investment institutions invested US$300,000 in cash, acquiring a 30% stake.

The agreement clearly defines the division of creative responsibilities: the Korean side (led by Taewon Entertainment) is responsible for assembling the main creative team, including the director and actors other than those designated by Wang Sheng (such as the already-selected male lead Cha Tae-hyun), and is also responsible for distribution in South Korea and parts of Asia.

The Chinese side (Shengying Media) holds the final approval rights for the script and the final cut of the film, and is responsible for all distribution matters in mainland China. Stephen Chow's side mainly enjoys the investment benefits and is nominally listed as the producer, but does not participate in the specific production.

Wang Sheng calmly picked up the pen, signed his name on the agreement, and affixed the company seal. Zhou Xingxing and Zheng Taiyuan followed suit, signing and affixing their seals as well.

A flurry of flashes lit up the room, capturing the historic moment as the three parties shook hands and jointly raised the agreement.

The audience burst into warm applause.

The leaders of the State Administration of Radio and Television took the stage to speak, fully affirming the positive significance of this cooperation in exploring new models of Sino-foreign co-productions and promoting cultural exchange, and expressed their continued support and encouragement for such compliant and win-win international cooperation projects.

At the light meal following the signing ceremony, Stephen Chow quickly ate a few bites before approaching Wang Sheng.

“Mr. Wong, things are settled here, and I’ll be heading back to Hong Kong this afternoon. The pre-production for ‘Shaolin Soccer’ has reached its most crucial stage. There are a whole bunch of things waiting for my decision, from the special effects team and the actors’ martial arts training to the final decision.” Stephen Chow said urgently.

Wang Sheng nodded understandingly: "Go ahead, Xingzai. We'll take care of things here. 'Kung Fu Soccer' is the most important project. Contact us anytime if you need anything."

As if remembering something, Stephen Chow added, "Oh, right, Mr. Wang, I've discussed Li Xiaoran, whom you recommended before, with my team. We think she has a great temperament and can play the female lead. If you have no objections, Mr. Wang, she's the one for the female lead in 'Shaolin Soccer'."

"Sure, I'll have the company notify Xiaoran to prepare for joining the crew. Best wishes for everything."

"Thank you, Mr. Wang!"

After shaking hands with Wang Sheng and Zheng Taiyuan again, Stephen Chow hurriedly left with his assistant to head to the world of "Kung Fu Soccer" that he had been longing for.

After seeing Stephen Chow off, Wang Sheng chatted with the enthusiastic Zheng Taiyuan for a while longer, confirming the schedule for the Korean team to come to Beijing in mid-April for the first script discussion and a meeting with the main creators.

(End of this chapter)