270. Chapter 262: South Korea’s First World-Class Billionaire



On March 18, Son Ye-jin gave birth to a son, Song Yuanlong, for Song Yi in the presidential suite of Union Hospital on Hong Kong Island. The baby weighed 6.72 jin at birth.

Liao Yu chose this hospital because of its better security measures. The exterior wall of the hospital building is made of reflective glass, which can prevent paparazzi from secretly taking photos.

Son Ye-jin stayed in the presidential suite on the top floor of Union Hospital, which cost up to HK$40,000 a night. If the expenses related to confinement are included, it would cost almost HK$800,000.

The security team hired by Liao Yu temporarily increased security personnel in the hospital lobby, parking lot, and passenger and van loading and unloading areas. Liao Yu informed the hospital's major shareholder Henderson Land Development in advance, and the hospital agreed to Liao Yu's arrangement.

Song Yi's parents, Son Ye-jin's parents, Liao Yu and Song Miao were all present. Kim Tae-hee had also planned to fly from Seoul to Hong Kong Island to visit Son Ye-jin, but Song Yi declined.

"You are pregnant too, there is no need to go through all this trouble. There is no need to show sisterhood at this time, otherwise Son Ye-jin's parents won't know how to get along with you when they see you." Song Yi advised.

Jin Xiyuan said, "Our husband is not afraid of Son Ye-jin's parents, but he doesn't know how to face his father. If the father-in-law sees you and Son Ye-jin in the delivery room at the same time, our husband will probably be scolded again."

For the sake of his grandson Song Yuanlong, Song Mingzhe did not scold Song Yi for the first time. The father and son sat together and chatted calmly.

Song Mingzhe looked at the swaddling Song Yuanlong and sighed, "We Chinese people believe that one should be independent at the age of 30. I had you when I was 30, and you also had Yuanlong when you were 30. You are my second son, and Yuanlong is also your second son. In some way, this is also a kind of inheritance of destiny."

Song Yi did not refute Song Mingzhe. If he told Song Mingzhe that Song Yuanlong was his third son and Chen Yuanzhong was his first son, Song Mingzhe would probably scold him again.

"What your mother said actually makes sense. You are managing a large enterprise with more than 100,000 employees. If SA Group were located in the mainland, it would at least be a central enterprise. I have more negatives than positives about your achievements. Your eldest brother died early, and you are my only son."

"If you start a business in China, I can still help you. You are alone in Korea, and I can't really help you much. On the contrary, you have helped me a lot. I can achieve some results at Bianzhou University, and this is actually inseparable from the support of SA Group in Bianzhou. The leaders of Liaozhong Province and Bianzhou hope that SA Group can increase its investment in Bianzhou. Of course, I hope that my hometown can develop better, but at least I have learned not to interfere in the operations of SA Group. I am a history professor, not an economist." Song Mingzhe said.

"Dad, don't say that. You have helped me a lot. More than ten years ago, you sent me to study abroad at Yonsei University and bought me a house and a car in Seoul. SA's development to its current scale is actually inseparable from the first pot of gold given by you and mom. From childhood to adulthood, I have lived a good life and have not suffered much." Song Yi said.

"Every generation has its own Long March. We all grew up with different experiences, and I cannot impose my ideas on you. As your parents, we can only remind you more often. You are now the father of several children. Before making a decision, please consider your wife and children more. After all, the whole family is counting on you, and you must ensure your own safety first." Song Mingzhe reminded.

Song Yi knew that Song Mingzhe didn't like his close contact with the Open National Conference, but in the Confucian business and cultural circle, no matter where you do business, you can't avoid dealing with the government.

"Dad, I will pay attention. The congressional hearing last year has been confirmed to be a misunderstanding, and this situation will not happen again in the future." Song Yi said.

Song Mingzhe was a little worried. He knew that Song Yi's words were not entirely true. Chinese children like to report good news but not bad news. Song Yi was able to gain a foothold in South Korea, where relations were so complicated, and created such a great foundation. Song Mingzhe could only choose to believe Song Yi.

After Son Ye-jin became pregnant, her parents met Zhou Shulan and Liao Yu two or three times, but this was the first time that her relative Song Mingzhe met them.

Son Ye-jin's parents knew that Song Mingzhe was a university president, a high-ranking official. Son Ye-jin's parents were ordinary office workers, and Son Ye-jin protected her family very well. Son Ye-jin's parents didn't know how to deal with a leader like Song Mingzhe, but fortunately, Song Mingzhe behaved very approachably.

Son Ye-jin called Song Yi over. Song Yi thought that Son Ye-jin was not feeling well, so he quickly walked to the bed and held Son Ye-jin's hand, "Ye-jin, are you feeling unwell? I'll call the doctor over."

Son Ye-jin shook her head. "Oppa, did your father ask for leave to come here? You two are so busy with work. Now the baby and I are both healthy, and my parents are taking care of me. If you two have something to do, just go ahead and do it. Don't worry about me."

"What do you mean my dad? That's your father-in-law. He is indeed busier than me. He will stay in Hong Kong Island tonight and will return to the mainland tomorrow. It's not easy for me to come to Hong Kong Island, so I must spend a few more days with you." Song Yi said.

Son Ye-jin was very happy. "I was afraid of teachers when I was in school. Your father was the president of a university. I was even more afraid of him because he looked so majestic. I didn't dare to call him grandpa. But grandma said that Yuanlong looked a lot like you when you were a child. Grandma also showed me your hundred-day photo. He really looks alike. He will definitely be a handsome boy like you when he grows up."

Song Yi smiled, "Yuanlong's mother is so beautiful, he won't be ugly when he grows up. It's okay if he looks like me, but his personality doesn't have to be like mine. I hope he can be more loyal in the future."

Son Ye-jin touched Song Yi's face and said, "Oppa has a good personality. Being affectionate is not a sin. If Oppa is a loyal person, then I won't have a chance to be with Oppa, right?"

When Son Ye-jin's mother heard her daughter's undisguised confession, she coughed twice and told her daughter to be more low-key. There were so many people in the delivery room, so there was no need to show affection at this time. Some parents-in-law are more serious and don't like their sons and daughters-in-law being intimate in public.

Song Yi knew that Sun Yezhen was reluctant to part with her son. He touched Sun Yezhen's forehead and said softly, "If you want to bring Yuanlong with you to raise him, I support you. I will do the work of my parents and sister-in-law, and it will not affect Yuanlong's future."

Son Ye-jin did not hesitate, "We have to keep our promises. How can we go back on our promises to my parents-in-law? Miaomiao was raised by her grandparents. She is smart, sensible and polite. My sister-in-law asked New Asia Media to make it easier for me to visit the child. In the future, I may be able to open up a market in the mainland film market."

In the past two years, many Korean actresses have come to the mainland to shoot TV series. Cai Lin starred in "Love in the Aegean Sea" and "The Yang Family Generals", Zhang Nara starred in "The Princess Weiyoung", and Park Si-yeon played the role of the Three Holy Mothers in "The Lotus Lantern". The Three Holy Mothers played by Park Si-yeon were also praised as the most beautiful Three Holy Mothers. However, except for Cai Lin who became a Chinese daughter-in-law, the other two actresses later faded out of the entertainment industry.

Although Korean actresses have made their mark in the mainland's TV drama industry, mainland film companies have not yet developed a habit of using Korean actors.

"If you come to the mainland to make a movie, unless it is a movie invested and produced by Xinya itself, you won't get a good role, and it will be even more difficult to win an award. If you want to make a TV series, I can help you find some good scripts." Song Yi said.

Son Ye-jin didn't care. "Oppa, before Yuan Long was born, I always hoped to make a breakthrough in my acting career, at least to win a Best Actress award from one of the three major awards and catch up with Jun Ji-hyun. After my son was born, my thoughts changed. I just wanted to spend more time with my child. Acting is really just a job for me. As long as there is a good script, whether it is a movie or a TV series, it's fine. I've lived in Hong Kong Island for so long that I have learned Cantonese and Mandarin, and I'm just waiting to go to the mainland to show my skills."

Song Yi stayed in Hong Kong Island for almost a week. Son Ye-jin was discharged from the hospital and moved back to her villa in Mid-Levels. The senior management team of New Asia Network also rushed from the mainland to Hong Kong Island to join Song Yi. Song Yi was going to take the senior management team of New Asia Network to visit various securities companies and investment institutions in Hong Kong Island to finalize the key issues for New Asia Network's listing.

On March 23, Xinya Networks launched its IPO and it will end at 12:00 on March 26. According to the announcement of Xinya Networks on the Hong Kong Stock Exchange, Xinya Networks plans to be listed on the main board of the Hong Kong Stock Exchange on April 3. Xinya Networks will issue 66.66 million shares globally, with a global offering price range of HK$55-92.

According to the news, Deutsche Bank, NetEase, Penguin and Songyunfeng Fund will participate in the stock issuance of Xinya Network as cornerstone investors. These four institutions have subscribed to a total of US$78 million of Xinya Network's shares.

According to the prospectus submitted by New Asia Network, investors in Hong Kong finally got the annual report of New Asia Network in 2005. Hong Kong investors were finally able to see the full picture of the first online game company in the mainland.

The annual report shows that the revenue of Xinya Network in 2005 totaled RMB 3.026 billion, and the net profit in 2005 was RMB 1.1292 billion. The main revenue of Xinya Network came from the advertising revenue of "Legend of Mir 2", "World of Legend", "World of Warcraft", Xinya Game Hall and Xiaonei.com.

Last year, Xinya Network won the agency rights for Blizzard's game "World of Warcraft" for the next five years at a high price of $25 million in agency fees, 17% profit sharing and $60 million in independent computer room construction fees. If the initial publicity costs of "World of Warcraft" are included, Xinya Network spent a full $100 million on "World of Warcraft".

At that time, Zhu Jun of 9City Games offered 13 million US dollars and 22% profit share, but it still failed to impress Blizzard. As Blizzard said, the reason why they chose Xinya Network and abandoned 9City was mainly because they valued Xinya Network's previous successful experience in operating "Legend of Mir 2".

Compared to the $10 million that Sina paid for the agency rights to South Korea's top online game "Lineage 2", the price that Xinya Network paid for the agency rights to "World of Warcraft" is astronomical.

Song Yi then gave the order to Xinya Network's general manager Li Yu, "Win the agency rights of World of Warcraft in mainland China at all costs. If other mainland online game companies are allowed to obtain the agency rights of World of Warcraft, it will directly threaten Xinya Network's market position as the largest online game company in mainland China, and may even affect Xinya Network's valuation after its listing."

Just like “Legend”, this gamble of Xinya Network was successful again. In the six months since Xinya Network obtained the agency rights of “World of Warcraft”, it has contributed a total of RMB 800 million in revenue to Xinya Network.

If the current trend continues, the online game World of Warcraft will bring at least 2 billion yuan in revenue to Xinya Network every year, leaving competitors such as NetEase, Penguin, and Shanda far behind.

The financial report released by New Asia Network obviously ignited the enthusiasm of Hong Kong investors. On April 3, New Asia Network was officially listed on the main board of the Hong Kong Stock Exchange with an issue price of HK$85 per share.

Based on the issue price, the total market value of New Asia Network is HK$51 billion, and the IPO raised HK$5.6661 billion.

When the Hong Kong stock market opened on April 3, the share price of New Asia Network rose by 4% to HK$88.40. The market value of New Asia Network is almost three times that of Penguin.

When Penguin went public in June 2004, it issued 2.416 billion shares at a price of HK$0.74, raising HK$1.8 billion in total. The funds raised by New Asia Network in this IPO are almost three times that of Penguin.

After Xinya Network completed its listing, Song Yi announced his resignation as chairman of the board of directors of Xinya Network. Li Yu, general manager of Xinya Network, took over as chairman of the board of directors of Xinya Network, and Guo Haibin, deputy general manager of Xinya Network, became general manager of Xinya Network.

According to data disclosed by the Hong Kong Stock Exchange, the Song Yi family holds a total of 55% of New Asia Network's shares, making it the largest shareholder of New Asia Network. These shares are worth a total of HK$29.172 billion.

Although New Asia Network was listed on the Hong Kong Stock Exchange, it received a lot of attention from the Korean media. The Chosun Ilbo, Dong-A Ilbo and the Hong Kong Stock Exchange all sent reporters to Hong Kong Island to report on New Asia Network's grand occasion.

The headline of Dong-A Ilbo reads, “South Korea’s first billionaire emerges.” Financial reporters from KBS, MBC, and SBS TV stations discussed the widening wealth gap between the current richest man Song Yi and the former richest man Chen Jianxi.

Chen Jianxi's current personal net worth is about US$4.5 billion, while Song Yi's personal net worth has exceeded US$8 billion, almost twice that of Chen Jianxi. As SA Group's high-quality subsidiaries enter a period of intensive listing, the wealth gap between Song Yi and Chen Jianxi will only grow.

According to a KBS TV commentator, Samsung is indeed a world-class company, but Chen Jianxi can only be considered an Asian-level billionaire, not a world-class billionaire. After all, Chen Jianxi's family holds too few Samsung shares, and most of them are in the hands of Wall Street capital.

The biggest difference between Song Yi and Chen Jianxi is that he holds the majority of shares in SA Group. The market value of SA Group is only one-third of Samsung Group, while Song Yi's personal wealth is already twice that of Chen Jianxi.

Song Yi is also the first world-class billionaire in South Korean history. After SA Soft goes public, Song Yi's personal wealth will exceed 10 billion US dollars, making him a billionaire like Bill Gates and Warren Buffett.

KBS is a state-run TV station in South Korea, and its reports are basically officially certified. From then on, Song Yi had the title of the first world-class billionaire in South Korea. In a sense, this title is also a talisman for Song Yi. After all, South Korea finally had a world-class billionaire, and no matter who wanted to touch Song Yi, it would depend on whether the Koreans would agree.

Liu Huiying and Xu Zhuxian, mother and daughter, also read the KBS report. Xu Zhuxian's little brain was still calculating how many zeros there were after 8 billion US dollars.

Liu Huiying then remembered that Song Yi gave Xu Zhuxian 50,000 shares of New Asia Network as New Year's money during the Spring Festival. Now the market value of this part of the stock has exceeded 4 million Hong Kong dollars. You know, 4 million Hong Kong dollars can already buy a pretty good apartment in a prosperous area of ​​Seoul.

"Joo-hyun, now it seems that the New Year's money Song Yi gave you during the Spring Festival is a bit too valuable. It's not our money, so we can't accept it. When Song Yi comes back from the mainland, I will take you to Song Yi's home and return these shares to him, okay?" Liu Huiying said to Xu Joo-hyun.

Xu Zhuxian nodded, "Oh mom, I think so too. But can you talk to Brother Song Yi and ask him to leave me 100 shares as a souvenir? After all, this is the first time I have received such a memorable New Year's gift."

Thank you all for your monthly tickets, see you tomorrow.

(End of this chapter)


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