Shinhan Media has officially signed a five-year advertising cooperation agreement with SK, LG, Hyundai and Asan. The total amount of the five-year contract is as high as 260 billion won, or about 1.43 billion yuan.
If the five-year contract is fully fulfilled, Shinhan Media will become the fifth largest advertising company in South Korea, second only to Cheil Advertising, Innosun, Lotte Advertising and LG Advertising. Chen Jaechan knew that he could only think about it in his heart. After all, of the 260 billion won contract, only 52 billion won in the first year would be transferred into the company's account.
Of course, Chen Jae-chan can now choose not to continue with Song Yi's backdoor listing plan, but Chen Jae-chan, who has lost the protection of the Samsung Group, cannot withstand the joint retaliation of these companies.
In the next few months, Chen Zaican and Song Yi were both very busy. Shinhan was going to produce a series of advertisements for these four companies. Song Yi resigned from the position of executive director of Shinhan Media, but served as the creative director of Shinhan Media.
Shinhan Media was originally small in scale and did not need to have a creative director. This position was not newly created for Song Yi.
Shinhan also launched a large-scale recruitment plan at the end of the year. The company added more than 100 employees, focusing on recruiting artists and copywriters.
On December 8, New Asia Real Estate Group Co., Ltd. was formally established in Yanjing with a registered capital of RMB 100 million. New Asia Real Estate rented an office floor in the east building of Kaixuan Building on Xizhimen Outer Street in Xicheng District as the office headquarters of New Asia Real Estate.
Kaixuan Building is a Western-style classical high-end intelligent office building invested and built by Yuanhao Real Estate, a subsidiary of China Merchants Group of Hong Kong Island. The building covers an area of 16,844 square meters and has a total construction area of 83,945 square meters. It is divided into three buildings: West, Middle and East. The Middle Building is 10 stories high, and the East and West Buildings are five stories each. The ground building presents a mountain shape.
The first floor above ground is occupied by banks and securities companies, and the rest of the floors are office buildings. There are three more floors underground, the third floor is a business club and employee restaurant, the second floor is a large garage, and the first floor is a small commercial street and restaurant.
Song Yi inquired about the price of Triumph Building. The unit price of office buildings in Yanjing is not expensive at the moment, only RMB 14,000 per square meter. Triumph Building can be purchased for RMB 1.2 billion.
Song Yi wanted to buy the building, after all, office buildings in this area are hard to come by, but later he thought better of it. He bought land and a lot of real estate in Seoul. If he spent another billion to buy the Triumph Building, New Asia Real Estate would have problems with the start-up funds for the project. Although New Asia Network is a cash cow, it currently has no way to provide blood transfusions for its parent company, New Asia Media.
Xinya Real Estate, Xinya Real Estate has three shareholders, Eshan Construction, Xinya Media Group and Yiyishenghui Investment Partnership. Eshan Group holds 40% of the shares, Xinya Media and Yiyishenghui hold 35% and 25% respectively. On paper, Eshan Group is the largest shareholder.
The chairman of New Asia Real Estate Group is Zhou Xiuxian and the general manager is Mao Xiaoqing. Zhou Xiuxian is the president of Eshan Construction. He was previously the vice president of Eshan Construction. When Li Yizhi resigned, Zhou Xiuxian succeeded Li Yizhi as the president of Eshan Construction. He has rich experience in real estate project construction and management.
Mao Xiaoqing was born into an educated family in Yanjing. He graduated from the School of Architecture of Southeast University. He joined Singapore CapitaLand in 1996 and served as a senior project manager. After 2000, he began to serve as the general manager of the Yanjing Ascott project.
The reason why Song Yi was willing to poach Mao Xiaoqing from a high salary was because Song Yi had dealt with Mao Xiaoqing before his rebirth. Mao Xiaoqing was the executive vice president of Vanke at the time, and later left to start his own business and founded Ucommune. The VC where Song Yi worked invested in the Ucommune project.
Ucommune is known as the Chinese version of WeWork, but shared office space is indeed unsustainable. Investing in WeWork caused SoftBank Group to lose 47.7 billion yuan. Ucommune, founded by Mao Xiaoqing, has also been losing money year after year, and can be said to be a brother in distress with WeWork.
In Song Yi's opinion, Mao Xiaoqing is not good at exploring new things but is good at maintaining the status quo, which makes him just the right person to be the general manager of Xinya Real Estate. Song Yi also values Mao Xiaoqing's overseas work experience, which can help him better cooperate with Zhou Xiuxian's work.
Mao Xiaoqing had no intention of joining the new company, Xinya Real Estate, but after he learned about the shareholder background of Xinya Real Estate, he changed his mind.
Eshan Construction, formerly known as Hyundai Construction, is a large real estate company ranked very high in South Korea. Xinya Real Estate's shareholders Xinya Media and Yiying Shenghui are also shareholders of Xinya Network. The online game "Legend of Mir 2" represented by Xinya Network is the most popular online game in mainland China this year.
New Asia Media is also a large media company, involved in music, film, advertising, artist management, venture capital and other industries. In Mao Xiaoqing's eyes, Song Yi has created a business empire with assets exceeding US$1 billion.
The richest people in the mainland in 2001 were the Liu brothers from Sichuan Province, whose family assets were 8.3 billion yuan. Even if Song Yi's personal wealth is not as good as that of the Liu brothers, it should not be much different. However, Song Yi is rarely seen in reports in the mainland.
Mao Xiaoqing made some analysis. First, Song Yi's business territory is mainly in South Korea, so he has received less attention in the mainland. Second, Song Yi himself prefers to keep a low profile.
The legal person of Xinya Real Estate in the mainland is Zhou Xiuxian, the legal person of Xinya Advertising is Zheng Yiping, the legal person of Yiyingshenghui Investment Limited Partnership is Liao Yu, and the legal person of Xinya Network is Li Yu.
Companies under the New Asia Group have begun to implement cross-holdings like the big Korean conglomerates, giving people the illusion that Song Yi's shareholding ratio in the New Asia Group is getting lower and lower.
The New Asia Group currently does not have any listed companies, and its financial data cannot be made public, so the outside world cannot accurately calculate how much money Song Yi has. Currently, the only company where Song Yi is the legal representative is South Korea's New Asia Media Group.
However, Mao Xiaoqing soon witnessed the generosity of Xinya Real Estate. In addition to the 600 acres of land in Changying area, Xinya Real Estate bought another commercial land in Wangjing with a total area of 20 hectares, or about 320 acres, at a total cost of 750 million yuan.
This rectangular plot of land is located in Wangjing North, starting from Guangshun North Street in the east, bounded by Beibinhe Road in the south, Wangjing Outer Ring Road in the north, Chaoke Development Road No. 1 in the west, and divided into the North and South by Donghu Road in the middle. The plot of land is about 285 meters long from east to west and 700 meters long from north to south.
Wangjing area is a fourth-tier area in Yanjing. The average price of the commercial land purchased by Xinya Real Estate in Wangjing is 3,750 yuan per square meter.
In 2002, Yanjing City updated its benchmark land prices for the first time. The price of commercial land in the fourth-level area was 4,405 yuan/square meter, the price of office land was 3,275 yuan/square meter, and the price of residential land was 2,845 yuan/square meter. Based on this, the price that Xinya paid for the land was not expensive.
According to Song Yi's plan, a 700-meter-long and 70-meter-wide commercial pedestrian street will be built on the easternmost side of the project. This commercial center is temporarily named Wangjing Donghu Pedestrian Street.
In addition to Liubaiben Pedestrian Street, the remaining land will be used to build a twin-tower landmark building across Donghu Street. It will be 200 meters high and will be the tallest building in Wangjing. The planned skyscraper is temporarily named Wangjing Center Building.
The shape of the twin towers is H-shaped, similar to the Petronas Twin Towers in Kuala Lumpur, Malaysia, but with some differences: the Petronas Twin Towers have pointed tops, while Wangjing Center has a flat top.
The design of Wangjing Tower is inspired by the Chinese tripod. A connecting passage will be built at a height of 118 meters between the two skyscrapers, and the ground of this passage will be built in the form of a glass plank road.
After Wangjing Center opens to the public, this glass plank road will surely become a popular check-in spot for tourists, and will also boost the popularity of East Lake Pedestrian Street.
In fact, Xinya Real Estate also encountered competitors in the commercial pedestrian street project. The Wang Yonghong brothers of Zhonghong Real Estate also took a fancy to the pedestrian street land and wanted to build a 600-square-meter commercial street. In the end, the leaders of Wangjing area were impressed by Xinya Real Estate's proposal.
Compared with Zhonghong Real Estate, Xinya Real Estate's proposal has more advantages for several reasons:
First, Xinya Real Estate packages the land as a whole, which is more worry-free and labor-saving. If the pedestrian street project is handed over to Zhonghong Real Estate, the remaining land plots will have to be sold separately.
Second, Wangjing District is not far from the airport and has limited height requirements for buildings. Being able to build a 200-meter-high twin towers in the area before the 2008 Olympic Games was certainly very attractive to the leaders.
3. The technical background of New Asia Real Estate. The largest shareholder of New Asia Real Estate is Asan Construction, which was formerly Hyundai Construction. Large Korean real estate companies have built many landmark buildings around the world. The Petronas Twin Towers in Kuala Lumpur were built by Samsung Construction. Although New Asia Real Estate is a newly established company, Asan Construction is indeed a technologically advanced real estate company.
Fourth, advertising effect. Although Song Yi planned the basic sketch of Wangjing Center, he still promised the leaders of Wangjing District that he would invite world-class architectural designers to enrich and improve the design details. For this, Xinya Real Estate was willing to pay a sky-high design fee of 10 million RMB. Song Yi preferred Zaha Hadid Architects. The Wangjing SOHO Building she designed was known as the "national gate" building.
New Asia Real Estate develops real estate in Yanjing, and SOHO China is a business competitor that New Asia Real Estate must face. It is not bad to snatch their future royal architectural designer in advance. At least Song Yi will not run abroad.
Fifth, Xinya has strong investment attraction capabilities. Xinya Real Estate has close relations with major Korean conglomerates, and Song Yi also expressed his willingness to assist more large Korean companies to settle in Wangjing and build Wangjing into a high-tech park.
In this comparison, Zhonghong Real Estate and Xinya Real Estate were almost completely defeated. However, what Wang Yonghong didn't know was that Song Yi had intercepted his real estate project for the second time. The 600 acres of agricultural land in Changying was the first time, and the Liubaiben Commercial Street was the second time.
With these two interceptions, it has become even more difficult for Zhonghong Real Estate to get good land in Yanjing. In addition, Yanjing will fully implement the land bidding and auction system in 2002. For commercial land, state-owned land must be publicly transferred to the society through bidding, auction or listing. Zhonghong Real Estate missed the last train, and Wang Yonghong missed the opportunity to become the richest man in Jiangxi Province. Wangjing area was originally the place with the most Koreans. Later, Samsung Building and LG Building were built in Wangjing area. Wangjing area has a permanent population of 300,000, of which 70,000 are Koreans, accounting for about a quarter. Song Yi and Xinya Real Estate just accelerated this process in advance.
In 2016, Sino-Korean relations cooled, and Korean companies withdrew from Wangjing area one after another. Internet companies quickly filled the gap. Alibaba, Meituan, Bilibili, Momo, MissFresh and other Internet companies quickly filled the vacancy of Korean companies. It can be said that in the next 20 years, Wangjing Center Building will have no problem renting.
Even if Korean companies do not lease office space in Wangjing Center on a large scale, Song Yi is not in a hurry. Xinya Group currently has four companies in Yanjing: Xinya Network, Xinya Real Estate, Xinya Investment and Xinya Advertising. In addition to Xinya Advertising, Xinya Network and Xinya Real Estate will need to recruit a large number of employees in the future.
Internet giants like ByteDance, Alibaba and Tencent all have over 100,000 employees. Vanke Real Estate also has over 100,000 employees. Xinya Network is benchmarked against Tencent and Alibaba, and Xinya Real Estate is benchmarked against Vanke. Even if the two office buildings in Wangjing Center are used as the headquarters building of Xinya Group in the future, it is a very cost-effective deal.
Before New Year's Day, Song Yi stayed in Yanjing. He led Zhou Xiuxian and Mao Xiaoqing to visit many leaders and architectural experts. Yanjing Metro Line 14 will pass through Donghu Pedestrian Street in the future, and Wangjing Center is a 200-meter super-high building. Song Yi must find experts to verify and ensure the safety of the project.
Wangjing Center is expected to invest 3 billion to 3.5 billion yuan. If the East Lake Commercial Pedestrian Street is added, the overall investment of the project will be nearly 4 billion yuan, and it will take about 4 years to complete. For such a large investment project, Song Yi must be cautious.
Although the project requires 4 billion yuan, Xinya Real Estate does not have to take out the money all at once. Moreover, after Xinya Real Estate buys the land, it can use the land to get a loan from the bank for the entire real estate project.
The development plan of Xinya Real Estate is divided into three steps. The first step is to build the East Lake Pedestrian Street. This project requires the least investment and can quickly recover funds. The Wang Yonghong brothers of Zhonghong Real Estate earned their first pot of gold in real estate projects through the Liubaiben Commercial Street.
The second step is to start the construction of Wangjing Center. The third step is to start the residential community project in Changying District. However, Xinya Real Estate needs to change the agricultural land in Changying District to residential land first, and Xinya Real Estate needs to pay a land transfer fee to the Land and Resources Bureau first.
Song Yi plans to name the residential community project in Changying Yanjing Impression, start construction around 2006, complete it in 2008, and then sell it to the public. 2002 is coming soon, and with the big project of Yanjing Center as a bottom line, it will not be a problem to store the land in Changying for three or four years.
Li Chaoren also bought cheap land in the mainland and didn't develop it for 10 to 20 years. However, hoarding land can only be done before 2006. After 2007, if you buy land and delay development, the benchmark land price will rise sharply. At that time, your land may be taken back and auctioned on the market again. Yiyishenghui Limited Partnership is the major shareholder of Xinya Real Estate. Yiyishenghui Limited Partnership has only three partners, Song Yi, Zhou Shulan and Liao Yu. Therefore, Zhou Shulan and Liao Yu are naturally individual shareholders of Xinya Real Estate.
When Liao Yu learned that Song Yi spent 800 million RMB to buy a piece of land in Wangjing, and would spend another 4 billion RMB to develop the land in the next 4 to 5 years, she became a little impatient and wanted to find a chance to talk to Song Mingzhe about it. Liao Yu was worried that Song Yi had spread his business too far, and if the Wangjing real estate project failed, it would cost 20 to 30 billion RMB, and Song Yi might not be able to recover for a long time.
On the last day of the New Year, Song Mingzhe flew to Yanjing to visit his granddaughter. Song Yi drove his BMW 740 to the airport to pick up Song Mingzhe. Liao Yu and Song Miao sat in the back, and Zhou Shulan prepared dinner at home.
When Song Mingzhe saw his granddaughter, he lifted Song Miao up high and said, "Miao Miao, you haven't seen grandpa these days. Do you miss him?"
Song Miao chuckled, "I think so a little bit."
Song Yi took Song Mingzhe's luggage and teased Song Miao, "Miao Miao, grandpa bought you so many toys, but you only miss grandpa a little? You are such a heartless kid."
It was also Song Mingzhe's first time riding in a BMW 740. He couldn't help but teach his son a lesson, "Even if you make money, there's no need to be so extravagant, right? Your car looks very expensive."
"I saw a lot of young people in the Internet cafe playing the game developed by your company. There were quite a few middle school students among them. Some of them even skipped classes and climbed over the wall of school to play games. The parents of those students hate your company to death. If they knew where you live, they would probably come to your door to argue with you. As the boss of Xinya, do you feel any guilt?" Song Mingzhe asked proactively.
Liao Yu couldn't bear to see Song Yi being scolded alone, "Dad, you need to use your real name to access the internet in an internet cafe. People under 18 years old cannot go into an internet cafe to consume. It's not just the responsibility of the online game company that students go to the internet cafe to play games."
Song Mingzhe couldn't scold his daughter-in-law, so he decided to talk to Song Yi alone after returning to Everbright Garden.
Others praised Song Mingzhe for being lucky because his son had a successful career at a young age, opened a company in Yanjing, bought a car and a house, and brought his parents to Yanjing to enjoy a good life.
It was not until the second half of the year that he found out that Xinya Network was also a company under Song Yi's name. The online game "Legend of Mir 2" earned Song Yi one million yuan every day, which was simply a money printing machine.
Song Mingzhe is a professor of history at Bianzhou University. His course on Northeast Asian history on Lecture Room is also very popular. In the second half of this year, the president of Bianzhou University talked to Song Mingzhe and insisted on giving him more responsibilities and making him the dean of the School of History and Culture.
Bianzhou University is a 211 university, and the School of History and Culture is a secondary college of Bianzhou University. Song Mingzhe now enjoys the treatment of a full director.
After the principal finished talking to Song Mingzhe, he talked about Song Yi and asked what Song Yi was busy with recently. Since Song Mingzhe was invited by CCTV to record "Lecture Room", the principal could naturally find out about Song Mingzhe's background.
Song Mingzhe was able to serve as a visiting scholar at Yonsei University in South Korea in the 1980s, so his academic achievements are certainly very solid. If he had not been uninterested in a career in politics, he would have been a school leader in more than a decade.
Song Mingzhe now understood what the principal meant. The principal said that although Song Yi did not graduate from Bianzhou University, he grew up there and Bianzhou University was like his mother's home. Song Yi's career is developing so well now, and he hopes that Song Yi can return to Yeji to visit his mother's family when he has time.
“If you are poor in a busy city, no one will care about you; if you are rich in a remote mountain area, you will have distant relatives.” Song Mingzhe has experienced this personally. He never expected that he would have to act as a lobbyist when he came to Yanjing this time.
After Song Mingzhe explained his intention, Song Yi thought about it. This was the first time his father Song Mingzhe had spoken to him, so he naturally couldn't refuse. There was indeed a lot of room for cooperation between New Asia Media and Bianzhou University, but this was probably not what the president was expecting, and it was not appropriate to donate to the university in the past two years.
If you donate too much, you will be the first to be shot, and someone will be jealous and report you for tax evasion. If you donate too little, the school may not be satisfied. After the 2008 Olympics, when mainland tycoons like to donate money to universities in exchange for a good reputation, it will not be too late for Song Yi to donate again.
"Dad, didn't you go to Yonsei University as a visiting scholar? How about this? I'll ask Yonsei University to invite Byeonju University to visit Korea, and we at New Asia Media will be responsible for the reception."
"Byeonju University and Yonsei University will first become friendly schools. If there is an opportunity, we can also discuss matters related to cooperative education. Undergraduate students from the College of History and Culture of Byeonju University and the Department of History of Yonsei University can exchange their studies abroad. For example, freshmen and sophomores can study at Byeonju University, and juniors and seniors can study abroad at Yonsei University. If the grades are satisfactory, the other school will issue a graduation certificate."
"For the inschool website business, I have recently had a lot of dealings with the Korean Ministry of Education, and I have a good relationship with their superiors. I can help you in this regard." Song Yi replied.
Liao Yu listened to the conversation between Song Yi and Song Mingzhe. She began to hesitate. She didn't know whether she should tell Song Mingzhe about the big development plan of Xinya Real Estate during dinner. The average subscription is 496 now. It's just a few subscriptions away from 500. Friends who haven't subscribed yet, please subscribe. Without 500 subscriptions, I can't even get full attendance. Thank you for your support! Thank you again! (End of this chapter)