Chapter 82 The future media aircraft carrier: New Asia Media



Unlike Li Haoyan, Shen Zhe cleared all his Shin Cine shares. He plans to retire in Los Angeles and continue working in the film-related industry.

Currently, the Korean film industry is a three-way competition. CJ Entertainment, Lotte Entertainment and Soobo Entertainment have divided up the Korean film market, leaving small film companies like Shin Cine struggling to survive.

CJ Entertainment and Lotte Entertainment both have their own cinema chains, and Soobo Entertainment has also begun to build Show Box Cinemas. Soobo Entertainment is the production company of the movie "Sex is Zero". For Shin Cheol, he may have wanted to leave the fiercely competitive Korean film market a long time ago. After all, South Korea has only 50 million people and cannot support so many film companies.

Shen Zhe was a little embarrassed. "Mr. Song, I should finish the promotion of My Sassy Girl before leaving the company. But I am really tired, so please forgive me."

Song Yi said he didn't mind. "My Sassy Girl" is scheduled to be released in July, and there are still two months of preparation time. Apart from Shen Zhe's departure, the employees of Shin Cine are still doing their jobs, and the handover work is not chaotic. Song Yi is not worried.

Song Yi and Shen Zhe joked, "I originally planned to let Mr. Shen continue to be in charge of Shin Cine. Since Mr. Shen wants to go to Hollywood to learn about the advanced film industry, I can only poach people from other film companies."

Shen Zhe was a little surprised. He could feel the sincerity in Song Yi's words. "I appreciate your kindness, Mr. Song. Kim Woo-taek, the executive director of MegaBox Cinemas, is very capable. I wanted to recruit him to Shin Cine before, but he refused. Mr. Song, you can try to contact him."

Song Yi became interested and briefly asked about Jin Youze's resume, and found that this guy was indeed a talent.

Kim Woo-taek graduated from Seoul National University with a degree in Business Administration and later obtained a master's degree in Business Administration from Emory University. After graduation, he joined Samsung and got involved in the film and television industry by chance, and later became the executive director of MegaBox Cinemas.

MegaBox Cinemas is a joint venture between Orion Group and AMC Cinemas. They opened their first cinema in COEX Shopping Center in Samseong-dong last year and are preparing to open their second cinema in Busan this year.

Song Yi thought about it carefully, such a powerful person could not be an unknown person. Song Yi then remembered that Jin Youze was the founder of the Korean film company NEW, which produced the movie "Train to Busan" and the TV series "Descendants of the Sun".

The reason why Song Yi thought of NEW Entertainment was because when Song Yi was working in an investment bank before his rebirth, he participated in the listing project of Huace Film & TV. Later, Huace Film & TV became an overseas shareholder of NEW, and the two companies also established a joint venture. Jin Youze certainly had his strengths to develop NEW into a listed film company in just 8 years.

"Thank you for your kindness, Representative Shen. I will consider it and hope there will be opportunities for cooperation in the future." Song Yi and Shen Zhe shook hands and said goodbye. Shen Zhe has already put his property in Seoul up for sale and is preparing to move to Los Angeles with his family.

It is difficult to worship a great Buddha in a small temple. Shin Cine is not a top-notch Korean film company, so it is normal that it cannot poach Kim Woo-taek. If Shin Cheol switches from being the executive director of MegaBox Cinema to continuing to serve as the executive director of Shin Cine, there is not much room for career advancement, unless Shin Cheol is willing to give up the position of representative director to Kim Woo-taek, but everyone knows that this is impossible.

Song Yi is preparing to integrate the companies he personally owns. Shin Cine is preparing to be renamed SHINA Pictures, DSP Entertainment is preparing to be renamed SHINA Music, Shinhan Advertising is also preparing to be renamed SHINA Advertising, and the parent company SHINA Entertainment will be officially renamed SHINA Media Group.

In this way, New Asia Media Group will have three subsidiaries: New Asia Pictures, New Asia Advertising and New Asia Music. Song Yi is also planning to set up New Asia Network and New Asia Investment. The former will be responsible for online games and the latter will be responsible for equity investment. However, there is no need to rush now. Wait until the US$200 million loan from New Asia Entertainment arrives before making specific plans.

If Song Yi wants to integrate Shinhan Advertising into Shinya Entertainment, he must get the nod from another major shareholder, Shinhan Media.

If Chen Zaican disagrees, Song Yi will have to find a way to acquire the shares of Shinhan Advertising held by Shinhan Media. Song Yi decided to visit Chen Zaican first to test Chen Zaican's attitude.

Chen Zaican was very surprised to see Song Yi in the company. "You are always so mysterious. What brought you here? Xiu Na, make a cup of tea for Director Song."

Jiang Xiu Na is already the planning team leader of Shinhan Media. She was very happy to see Song Yi whom she hadn't seen for a long time. She didn't have time to greet Song Yi and was busy making tea for him.

"Kim Tae-hee's new commercial for Sam Da Su is so beautiful. If you and Tae-hee get married, you have to buy me a drink. After all, I can be considered your matchmaker." Chen Jae-chan said jokingly.

Ever since Song Yi went to Yanjing to open Xinhan Advertising, Chen Zaican no longer treated Song Yi as a subordinate, but as a business partner.

After New Asia Entertainment acquired DPS Entertainment and Shin Cine, Chen Zaican suddenly realized that Song Yi had reached a height that Chen Zaican could not reach.

Chen Jae-chan felt a little sad. He was a marginal member of the Samsung family. With the intentional or unintentional suppression from his uncle Chen Jianxi, it was difficult for Shinhan Media to achieve further development.

When Song Yi stated his intention to merge Shinhan Advertising's business into Shinya Entertainment, Chen Zaican was obviously unwilling to break up with Song Yi so early.

Chen Zaican suggested, "In fact, you don't need to rush to acquire the shares of Shinhan Advertising. Shinhan Advertising can be renamed Shinya Advertising first, and Shinya Entertainment can first complete the capital injection into Shinya Advertising and become the major shareholder of Shinya Advertising. At that time, the shareholders of Shinya Advertising will become Shinya Entertainment, Shinhan Media and you personally."

"As long as New Asia Entertainment holds more than 51% of New Asia Advertising's shares, New Asia Advertising will become a subsidiary of New Asia Entertainment, and you can integrate New Asia Advertising's business into New Asia Entertainment," said Chen Zaican.

Song Yi currently does not have the funds to buy back the shares of Shinhan Advertising held by Shinhan Media. Chen Zaican's suggestion solved Song Yi's problem.

Chen Zaican said to Song Yi, "Seeing that Xinya is developing so well, are you interested in integrating Xinhan into it?"

The size of Xinya Entertainment has surpassed that of Xinhan Media. If Xinya Entertainment integrates Xinhan Media, Xinya will be the main company and Xinhan will be the auxiliary company. Chen Zaican will go from being Song Yi's superior to being Song Yi's subordinate.

Song Yi and Chen Zaican have a good relationship, and Chen Zaican's wife Cui Shanji often invites Song Yi and Kim Tae-hee to dinner at home.

Cui Shanji knew that Song Yi was the key figure in turning New Han Media from loss to profit, so she always cared about Song Yi and wanted to help her husband win over Song Yi.

Since Song Yi became the executive director of Eshan Group, Cui Shanji has become more enthusiastic and has been asking Chen Zaican to invite Song Yi to dinner at home, which seems to be a bit of a way to please Song Yi. The first time Song Yi went to visit Kim Tae-hee's house, it was Cui Shanji who came up with the idea and helped prepare the door-to-door gift.

Chen Zaican felt a little awkward. "Song Yi is a grateful person. I haven't treated him unfairly. He wants to open an advertising company in China. Didn't I support him? Is it necessary for you to curry favor with him like this?"

Cui Shanji laughed instead of getting angry, "Chen Zaican, don't you know why I'm trying to curry favor with Song Yi? The key is that people from your Samsung family are unreliable. Last year, Shinhan Media was on the verge of bankruptcy. Who of Chen Zaixian of CJ Group and Chen Fuzhen of Shilla Hotel were willing to lend a helping hand? Even your eldest brother Chen Zaikwan said that the funds on the books of Sehan Group were tight, and finally reluctantly lent you 20 million won. I'm afraid you have forgotten how you survived the crisis?"

"Song Yi is developing so well now. You and he are partners in business. If you don't rely on Song Yi, do you rely on your unreliable cousins?" Cui Shanji asked back.

With Choi Sun-hee whispering in his ear, Chen Jae-chan has already adjusted his mindset, and it is only a matter of time before Shinhan Media is merged into Shin Asia.

Song Yi thought Chen Zaican was joking, but seeing Chen Zaican's serious face, "President, are you serious? After the merger of New Asia Entertainment and New Korea Media, New Korea Media can only become a subsidiary of New Asia Entertainment."

Chen Jae-chan didn't care, "Compared to the level of my personal position, I care more about whether Shinhan Media can become a first-class advertising company in Korea. Even if Shinhan Media becomes a subsidiary of Shin Asia, I should still be the president of Shinhan, right?" Chen Jae-chan finally joked with Song Yi.

Song Yi is considering the pros and cons of the merger of Shinhan Media and Shin Asia Entertainment. Currently, Song Yi has the final say in Shin Asia Entertainment. Except for Kim Hee-won and Lee Hao-yeon who own a small amount of shares, Song Yi is the majority shareholder with absolute control.

If Shinhan Media is merged into Shinya Entertainment, Chen Jae-chan will become the second largest individual shareholder after Song Yi.

Not only that, Chen Zaican was Song Yi's immediate superior before. If Chen Zaican showed off his seniority in New Asia Entertainment, Song Yi would be relatively young and his prestige would be hard to convince. So the key to the problem was whether Chen Zaican was willing to listen to Song Yi. Song Yi decided to take the time to ask Cui Shanji, after all, she knew Chen Zaican's true thoughts better.

"Let's do this step by step. We can't eat hot tofu in a hurry. Let's sort out the Shinhan Advertising issue first. As for the merger of Shinya Entertainment and Shinya Media, we will discuss it in two months to see if the situation will change." Song Yi and Chen Zaican discussed.

"Okay, no problem." Chen Zaican was also very happy.

At the end of April, Yanjing Xinhan Advertising Co., Ltd. was officially renamed Yanjing Xinya Advertising Co., Ltd., with its registered capital changed to RMB 10 million and the legal representative of the company changed from Song Yi to Zheng Yiping.

The shareholders of New Asia Advertising also changed. New Asia Entertainment holds 51% of New Asia Advertising shares, New Korea Media holds 30% of New Asia Advertising shares, and Song Yi personally holds 19% of New Asia Advertising shares. New Asia Advertising increased its capital and expanded its shares, so the shares held by New Korea Media were reduced to 30%, continuing to be the second largest shareholder.

As soon as Xinya Advertising completed the changes, Jin Chengguo contacted Song Yi and asked Song Yi to bring the materials to apply for a loan.

Kim Sung-guk chose Kookmin Bank of Korea, Hanhui Bank and Shinhan Bank, three banks that have close ties with the government.

Kookmin Bank of Korea just merged with Korea Housing Bank this month to become the largest commercial bank in South Korea.

Hanwha Bank Hanwha Bank is the second largest commercial bank in South Korea and the only state-owned bank in South Korea. After 2002, Hanwha Bank was renamed Woori Bank.

Shinhan Bank is a globally recognized financial services company with experience in the international bad debt market, and is listed on both the Seoul Stock Exchange and the New York Stock Exchange.

During the 1997 financial crisis, the South Korean government turned to the International Monetary Fund for help, and South Korean commercial banks all introduced foreign shareholders.

In order to resist systemic financial risks, the South Korean government presided over the merger of South Korean commercial banks. During Zhong Xiaotong's tenure as president, he had a strong influence on South Korea's large commercial banks.

Although Jin Chengguo did not show up, he had already greeted the executives of the three banks, and Song Yi's loan approval went very smoothly.

Xinya Entertainment applied for special loans of US$75 million, US$75 million and US$50 million from Korea Kookmin Bank, Hanhui Bank and Shinhan Bank respectively, with a loan term of 5 years.

Song Yi bought a 10-story building in Seocho-dong, Gangnam District for 24 billion won. Song Yi renamed the building Shin-Asia Building. Shin-Asia Building is only a two-minute walk from Gangnam Station on Metro Line 2.

The building consists of two underground floors and eight above-ground floors, covering an area of ​​147 pings (approximately 486 square meters) and a total construction area of ​​881 pings (approximately 2,904 square meters).

Shin Cine was officially renamed Shin Asia Films, and DSP Entertainment was officially renamed Shin Asia Music. Because the leases of some tenants in Shin Asia Building have not yet expired, Shin Asia Films and Shin Asia Music will move to Shin Asia Building in July to work together.

Chen Jae-chan considered that Shin-Asia and Shin-Han Media would merge in the future, and Jiang Xiu Na was also an old employee of Shin-Han Media, so it would not be a bad idea to familiarize herself with Shin-Asia's work in advance, so he agreed.

During this period, Song Yi also took time to visit Zhou Mengxian at the Seoul District Prosecutor's Office twice. Zhou Mengxian was very happy to see Song Yi, "How are the company and Enxuan?"

Song Yi was a little embarrassed. Zhou Mengxian asked him to help take care of Zheng Enxuan, but he ended up stealing. Song Yi wanted to reply, "I will take care of your wife and children, don't worry about them." But then he thought about it and thought that Jiang Xiu Na was still around, so he gave up.

"Uncle Mengxian, the company is currently operating normally, my aunt is doing well, Zhiyi is very motivated and making rapid progress, and her colleagues have praised her a lot." Song Yi gave a brief report.

Zhou Mengxian was very pleased. "Okay, okay, I always trust you to do things. Enxuan has just taken over such a large company, so she must have some difficulties. Please help her more."

Song Yi expressed his opinion, "Uncle Mengxian, don't worry, when you are not in the company, I will definitely share more of your work to help relieve Aunt's pressure."

"By the way, Eshan Group is preparing to issue an announcement stating that you do not hold shares in Eshan Group and do not participate in the actual operation of Eshan Group. Eshan Group has no connection with the secret fund case. We do this to stabilize the company's stock price. Uncle Mengxian, don't think too much about it." Song Yi stated his plan.

"I understand. This is what I should do. If I were in your shoes, I would handle it the same way. Your aunt is under a lot of pressure and I'm not around. You have to lend a hand." Zhou Mengxian advised earnestly.

Song Yi found it a little strange. Logically, Zhou Mengxian should be released soon after being investigated by the local procuratorate, but he could not leave his residence.

If the prosecution finds new evidence and re-arrests him, Zhou Mengxian will have been detained for more than half a month, unless some big shot has specifically informed the Seoul District Prosecutor's Office.

Song Yi and Zhou Mengxian talked about the changes in New Asia Entertainment. Song Yi specifically emphasized that he had applied for a special loan of US$200 million. He would also help Zheng Enxuan stabilize the board of directors and support Zheng Enxuan in clearing out some old shareholders.

Zhou Mengxian was a smart man, and he understood Song Yi's subtext immediately. His eyes lit up, and he didn't expect Song Yi to solve his worries in advance. If Zheng Enxuan could gain actual control of Eshan Group, then it would not matter when Zhou Mengxian got out.

Because Zhou Mengxian was accompanied by people from the Procuratorate throughout the meeting, there were some things he could not say in detail.

"I have told the Procuratorate many times that the secret funds provided to North Korea were mainly in exchange for the two projects of Mount Kumgang tourism and Kaesong Industrial Park. Every reunion of separated families can create huge economic benefits for Hyundai Asan. No one instructed me to do this. It has nothing to do with my father, let alone anyone else." Zhou Mengxian said excitedly.

Song Yi nodded. New Asia Entertainment has already obtained a loan of 200 million US dollars, and Zheng Enxuan has now begun to quietly absorb the circulating shares of Eshan Group.

Zhou Mengxian was exposed at this time because Zhong Xiaotong knew about it, or hinted that Zhou Mengxian provided secret funds to North Korea, which was not good for Zhou Mengxian, Song Yi and Zhong Xiaotong. It was the best option for Zhou Mengxian to admit all the crimes. This kind of economic case is generally sentenced to three years in prison. If he can do something, he may be released in a year and a half.

Zhou Mengxian certainly knew who was behind this and was unwilling to let him go home. Song Yi suddenly had an idea, "Uncle Mengxian, next year is the presidential election, and I want to visit the candidates in advance. Who do you think I should visit?"

Zhou Mengxian was a little surprised. The Hyundai family had reached an agreement with Song Yuxi that the Hyundai family would unanimously support Song Yuxi's presidential election next year. Why did Song Yi suddenly ask him which candidate he wanted to visit? Zhou Mengxian suddenly realized that Song Yi was asking him who was deliberately making things difficult for him, so Song Yi could find a way to save Zhou Mengxian in advance.

Zhou Mengxian pondered for a moment, "During the 1998 presidential election, the votes of Li Changhui and President Zhong were very close. I heard that Li Changhui intends to run in next year's election. He has a great chance of being elected. If you have time, you might as well pay him a visit."

Lee Chang-hui? Lee Chang-hui is the leader of the opposition Grand National Party. He, Lee Guangxue and Zheng Jinhui are all conservatives. Lee Chang-hui's campaign slogan is to end the left-wing regime.

Li Changhui participated in the presidential election three times in a row in 1997, 2002 and 2007, and lost to Zhong Xiaotong, Song Yuxi and Li Guangxue respectively.

Although Lee Sang-dae, the chief prosecutor of the Seoul District Prosecutors' Office, is the father of Song Yi's good friend Lee Hyun-jin, there is nothing wrong with Lee Sang-dae not daring to release Zhou Mengxian under pressure from Lee Changhui if Lee Changhui asks about Zhou Mengxian's case.

For politicians like Lee Sang-dae, the more you do, the more mistakes you make, while the less you do, the fewer mistakes you make. Lee Chang-hui obviously wants to dig up dirt on Zhong Xiaotong from Zhou Mengxian, which will be a heavy blow to progressives like Zhong Xiaotong and Song Woo-seok, and can help him win votes from voters.

Li Xiangda didn't want to offend Zhou Mengxian, so he served Zhou Mengxian with delicious food and drinks every day. Zhou Mengxian lived in a single room of 6 square meters in the Procuratorate, where he could read newspapers and books every day.

Song Yi understood what was going on. "Okay, Uncle Mengxian, I'll tell my aunt. I'll come to see you when I have time."

Zhou Mengxian waved his hand and said, "Everything is fine with me here, so Enxuan and Zhiyi don't have to worry."

After visiting Zhou Mengxian, Song Yi returned to Building 63 and talked about Zhou Mengxian's situation with Zheng Enxuan, Zhou Zhiyi, Li Yiji and Li Bingkui.

Li Yizhi wanted Zhou Mengxian to come out as soon as possible. Zheng Enxuan and Song Yi were now united to suppress other old people in Eshan Group. Li Yizhi was worried that it would not be long before the employees of Eshan Group would only know that the company was named Zheng, not Zhou.

Li Bingkui is relatively aloof in Eshan Group. He joined Song Yi early on, but he also wanted Zhou Mengxian to get out as soon as possible, so he gave Song Yi an idea.

"Li Changhui's son has not yet served in the military. Some people suspect that his son has acquired foreign citizenship. Should this matter be exposed?"

South Korea has a compulsory military service system. Adult men must serve in the military for about two years unless they have physical reasons. South Korean star Liu Chengjun was banned in South Korea for escaping military service, and even returning to his country has become a luxury.

In order to help their children escape military service, some high-ranking officials in South Korea will let their children obtain American or Canadian citizenship.

"No, Li Changhui is quite popular now. If he drops some shocking news at this time, voters may be very angry. However, as long as Li Changhui chooses to apologize and arranges for his son to return to China to serve in the military, he may increase his votes by admitting his mistakes and correcting them," said Song Yi.

"Uncle Bingkui, you should first secretly investigate the matter of Li Changhui's son evading military service. When the presidential election starts next year, we will strike a fatal blow to ensure that Song Yuxi can be successfully elected president. This will maximize our interests." Song Yi ordered.

Li Bingkui agreed, "Okay, I will start investigating now. But this will make Mengxian suffer."

Zheng Enxuan clapped her hands and made a decision. "Song Yi's arrangement is fine. I believe Meng Xian will understand. After all, the family's interests are paramount. As long as he is in there and is okay, Zhiyi and I will feel relieved."

Zheng Enxuan kept Song Yi. She wanted to discuss the equity issue of Eshan Group with Song Yi. Once Song Yi and Zheng Enxuan bought shares of Eshan Group, Eshan Group would issue a clarification announcement to the public and nominally cut ties with Zhou Mengxian.

There was no one else in the office, so Zheng Enxuan asked Song Yi directly: "Don't you want Meng Xian to be released so that you can continue to occupy his wife?"

Song Yi complained, "Aunt, you underestimate me by saying that. Uncle Mengxian staying in there is good for you, me, and everyone else."

"According to the agreement, New Asia Entertainment will provide you with a secured loan of $80 million for a period of three years. After three years, you will return $80 million in cash or stocks of equal value. If the value of the collateral is less than $80 million, both parties can terminate the loan agreement in advance."

"According to my estimate, 80 million US dollars can buy about 16% of the shares of Eshan Group. I plan to spend 40 million US dollars to buy 8% of Eshan shares. The two of us together own 34% of the shares, which can veto any proposal at the board meeting. Aunt will soon become the real owner of Eshan Group. Isn't this what you want to see?" Song Yi said.

Zheng Enxuan sighed, "I feel like I'm on your pirate ship and there's no turning back. I'm not sure whether I have the final say over Eshan Group or you do."

Song Yi looked at Zheng Enxuan, "Believe me, I, Song Yi, have always been generous to women and will never treat you unfairly. With me here, your family will only prosper. It will take at most five or six years for the family assets to surpass Uncle Meng Jiu and Uncle Meng Zhun. Aren't the sacrifices and efforts you are making now all for Zhiyi and the others?"

Zheng Enxuan has thought about this problem. She and Song Yi seem to have gained a lot from working together, but Song Yi has made more profit.

Zhou Mengxian took the blame in exchange for Zhong Xiaotong providing Song Yi with a loan of $200 million. Zheng Enxuan increased her shareholding in Eshan Group to 24%, but she personally owed Song Yi a loan of $80 million, and Song Yi's shareholding in Eshan Group also increased to 10%.

If Song Yi had second thoughts about her, he could still drive Zheng Enxuan out of Eshan Group together with other shareholders, and let Song Yi control Eshan Group. That's why she sighed, wondering whether she or Song Yi was the owner of Eshan Group. Maybe she was the owner of Eshan Group in public, but Song Yi was her owner in secret?

Song Yi hugged Zheng Enxuan from behind. Zheng Enxuan felt the heat of Song Yi's body and whispered, "Meng Xian asked you to take care of his wife, and this is how you take care of her?"

Song Yi said righteously, "Uncle Meng Xian said it himself, you are under too much pressure, and asked me to help more. I will also do more work if I am capable."

Zheng Enxuan felt that her life was now half sea water and half fire. She wanted to put on an attitude of a good wife and mother in front of Zhou Zhiyi, but she soon sank in front of Song Yi and gave up resistance completely. She was a housewife at home and a noble lady when she went out. What kind of woman was she in front of Song Yi? "Bah, shameless, how could he ask you for help in this kind of thing?" Zheng Enxuan spat in Song Yi's face.

"That's true. I'm the person Uncle Mengxian trusts the most. If he doesn't ask me for help, who else can he ask for help? After all, the president is under so much pressure, and only I can help relieve it. After all, the president is above me and I'm below, so you can do whatever you say!" Song Yi teased.

Zheng Enxuan was a little unsteady on her feet, so Song Yi helped her sit down. Zheng Enxuan said to Song Yi, "No matter how well a woman takes care of herself, she can't resist the erosion of time. You men are always unreliable, because there is always a lack of young and beautiful women around rich men. When Meng Xian was the chairman of Hyundai Group, there were always many bees and butterflies around him. I am not surprised."

"Women are the weak, especially in business wars. It is our instinct as women to rely on the strong. When Meng Xian is released in two years, you should be almost married by then, so it is better for us to break up." Zheng Enxuan expressed her considerations.

"Things will work out when the time comes. Let's take it one step at a time. After we take control of Eshan, I would like to make a major change in the company's management," Song Yi responded.

The first update is finished. See you tomorrow.

(End of this chapter)


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