Story of a Big Player from Gangnam

Chapter 575: Soap Opera Production Company in Shanghai (3) – Part 2

Gun-Ho said, “I was told that you had your own soap opera production company before.”

“Right. I opened a company called W Entertainment, and after shooting one soap opera, I went bankrupt.”

“You must have lost a lot of money.”

“I actually lost 2 billion won.”

“Wow. That’s huge. I’m sure that you had a hard time overcoming the failure and other consequences.”

“‘Having a hard time’ isn’t enough to describe the hardship that I experienced at that time. I wanted to die. I’ve applied for the rehabilitation process.”

“Since the insolvency amount is 2 billion won, it must be considered as general rehabilitation rather than personal rehabilitation.”

“That’s correct. If the amount of reorganization claim exceeds 500 million won, or if the amount claimed is secured debt and it exceeds 1 billion won, they put you in the general rehabilitation category, rather than the personal rehabilitation. By the way, you seemed to know well about the bankruptcy and rehabilitation process, sir.”

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“I’ve handled the process before. I used to work as a managing director of Mulpasaneop which was in rehabilitation at that time.”

“Oh, I see. I knew you had some experience in bankruptcy.”

Gun-Ho sat closer to the director and asked, “Have you seen anyone, who is in the manufacturing industry, showing interest in the soap opera production business?”

“Many companies try to diversify their business by getting into a new field; however, it’s rare to see a company showing interest in the soap opera production field. Especially, business owners in the manufacturing industry tend to avoid starting a business in a field that they are not familiar with.”

“Is that so?”

“Can I ask you something, sir? I’d like to know how far you are thinking of being involved in the business. I was told that you wanted to make an investment in the field. I’d like to know whether you want to make just an investment, or you want to participate in the production, or you want to form a joint venture.”

“I haven’t thought about it that far yet. According to Director Li, several young talented people, who used to work in a broadcasting station, opened a soap opera production company, and they are shooting a soap opera right now. As they lost their investor, they are now facing an acute financial difficulty, and he asked me to help them.”

“It is true that a lot of soap opera production companies are being opened in Shanghai City these days. However, if they just need funds to cover their production cost, they can find many major media companies with enough funds locally, unless they want to make a partnership with a Korean production company so they would have access to their Korean partner’s directing skills and technology. Some financially strong production companies in Shanghai City even intend to acquire a Korean production company.”

“Oh, really?”

“Many production companies in Shanghai are looking for technical cooperation with a Korean production company. Taiwanese soap operas are similar to Japanese soap operas while Hong Kong is making theirs similar to Europe’s. However, Shanghai City is geographically close to Korea, and they tend to make their soap operas similar to Korea’s.”

“Oh, I see.”

“Chinese soap operas written by a Chinese writer tends to be overly simple and boring. That’s because the writer grew up in a socialist environment. Moreover, China has very strict government censorship compared to other countries, which contributes vastly to its simple contents.”

“Let me ask you something. As Director Li in Shanghai City suggested, is it okay to provide a soap opera production company with funds for their current soap opera production? I was told that their ratings are a bit low.”

“No, it’s not okay at all. If you are really interested in making your investment there, you should at least review their scenario first. Soap opera directors usually planned their works for more than a year. You should at least read their synopsis.”

“Hmm, synopsis...”

“You should at least know the summary of their soap opera by reading their synopsis, so we could present them with the direction that they have to follow.”

Gun-Ho nodded his head.

“Mr. Director Sim, you are indeed an expert in this field. I learned a lot from you today.”

“Thank you.”

“Maybe I should tell Director Li that I can’t invest in the soap opera that is being produced right now, but I’m willing to make my investment in a new soap opera production after reviewing their scenario. Also, I should make it clear that I want a Korean director to participate in the making.”

“That sounds good, sir.”

“Do you mind if I ask where you are living right now?”

Director Sim let out a deep sigh and said, “I used to live in Gongdeok Town, Mapo District, Seoul. After I lost my condo there, I live in a OneRoomTel.”

Gun-Ho wanted to ask him about his family, but he didn’t. He didn’t want to remind him of his current sad situation. Gun-Ho smiled and said, “You should get back on your feet.”

Director Sim smiled cynically and said, “Well, I’m not even sure if I would have an opportunity to do so in my present life.”

Gun-Ho said while looking at the calendar hanging on the wall, “I’m going on a trip to Antang City, Guizhou Province, China this Thursday. I will give you a call sometime next week.”

“Sounds good, sir.”

Gun-Ho then pulled out an envelope from his desk drawer.

“It would be nice if I could have lunch or something with you, but I have to go to Asan City now. You came all the way here to meet with me. Please take this. I want to at least pay for your gas.”

When Director Sim saw the envelope, he quickly waved his hands indicating that he wouldn’t accept it.

Gun-Ho insisted, “You spent the gas in your car for me. Please allow me to pay for it.”

After giving a gesture that he wouldn’t accept it twice, Director Sim eventually took the envelope and put it into the inner pocket of his jacket. As the two men stood up to leave, they gave a bow to Gun-Ho showing respect. At that moment, Gun-Ho called for the general affairs director whose office was located close to Gun-Ho’s, and he said, “These gentlemen are my guests. Please show them around our factory.”

“Yes, sir.”

Gun-Ho turned to his guest and said, “Well, since you are here, please take a tour of the factory before you go back to Seoul. I will have to say bye here.”

“Thank you.”

The two men gave a bow again to Gun-Ho and walked out of the office following the general affairs director.

The general affairs director took them to the production site where machines like injection molding machines, extruder machines, and hydraulic press machines were sitting in a row.

“Whoa, this is amazing.”

When Director Sim took out his smartphone and tried to take a photo of robot arms that were diligently moving, the general affairs director quickly stopped him. He said, “I’m sorry, sir, but taking photographs inside our factory is prohibited.”

“Oh, is that so? I’m so sorry. I didn’t know that.”

BM Entertainment’s Manager Byeon and Director Sim who used to own and run W Entertainment were impressed by the enormous and well-organized factory of Gun-Ho’s. And they realized that Gun-Ho was not an ordinary businessman who was running a small company, but he was a capitalist with a potential that they didn’t even find out yet.