Chapter 170
Chapter 170
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Translator: Ryuma
Chapter: 170
Chapter Title: A Blast from the Past
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“Here's your spicy stir-fried octopus.”
An employee at the indoor pocha placed the glistening, spicy stir-fried octopus on our table.
“Heh... I really had no idea Producer Min-jun was such an incredible person.”
Mr. Gu, the man who had sold me his shares, said with admiration.
I had raised the funds to acquire Mr. Gu's shares by forgoing some of the rights to my contract with Rhythm Saber and three song commissions from SoundCloud. It hadn't been easy, but it was a result I'd achieved thanks to the back-to-back hits I produced for Answer's title track and the boy group Nine One's song.
I'd have to be swamped with work for a while because of it, but securing a stake in JD Enter was more important.
“Thank you for giving me a 30% discount.”
“Hahaha. Well, since we're on the topic, shall I be honest?”
“I'd like to hear it.”
Mr. Gu's eyes seemed to drift back to the past.
“My father's business failed, and after I barely managed to graduate high school, I had no way to make a living. I figured if I worked at a big butcher shop, I'd at least get to eat an extra slice of meat, so I started there. I just worked my fingers to the bone, and before I knew it, I'd gotten this old. Suddenly, I wanted to do something more glamorous than selling meat. But it's not like I'd ever really spent money on anything for myself in my life.”
Mr. Gu and I clinked our glasses and downed the soju. Then we each popped a piece of octopus into our mouths.
“While I was wondering what kind of glamorous work there was, I turned on the TV, and there was CEO Park Jae-yong, talking about his ambitions for overseas expansion. 'It's tough right now, but we're working incredibly hard. Please keep an eye on us!' It was cool. I thought, I want to do something like that, too.”
Though those ambitions nearly bankrupted JD...
“But then something really interesting happened. About half a year later, CEO Park came to my restaurant.”
I'd thought he was just rambling, but the story was surprisingly interesting.
“He said his funding had suddenly been cut off. The banks wouldn't help, and even his acquaintances had turned their backs on him. He was drunk, crying on the floor. Just like a cuttlefish flopping around after falling off the scale at a fish market.”
The image of the CEO lying there, writhing and whining in a drunken stupor, was surprisingly easy to picture.
“In that moment, I thought, 'This is a sign from the heavens, my destiny.' When I asked the crying CEO if three billion won would be enough, he shot up and grabbed my hands.”
The CEO's drunken antics weren't violent, but they had a tendency to be incredibly sappy. I could perfectly picture the scene from that day in my mind.
“And that's how I ended up investing most of my savings into JD Enter.”
“It really was destiny. I naturally assumed you invested through an acquaintance or a broker.”
“Heh heh. To be honest, I went through a lot of stress after investing. I thought the company would take off, but things only got worse for several years. I thought I wouldn't even get my principal back, let alone any profit. I started to wonder if there was a problem with CEO Park Jae-yong's management, so I considered getting involved myself. That's right when you joined the audition, Min-jun.”
“I guess I was lucky. I'm here today thanks to you, Mr. Gu.”
“Hahaha! You've got a good sense of humor. You multiplied the money I was about to lose five times over.”
“Thank you for saying so.”
“Like I said before, I'm still a merchant at heart. Giving you that 30% discount was a sign of my gratitude, but it was also because I'm confident you'll make my remaining shares even more valuable.”
There wasn't a hint of exaggeration in his words. He was speaking his mind, plain and simple.
“I'm counting on you in the future. And thank you, Min-jun.”
“I'm also grateful to you for helping JD Enter when we were struggling. I'll exceed your expectations.”
“Of course, I believe you.”
The atmosphere at our table was warm.
***
The 21.33% that would become mine in a few months, plus the 4.62% I had just acquired. I now held a staggering 25.95% of JD Enter's shares.
It was a relief that I'd been able to secure more shares before signing the contract with Lee Yoo-ah's overseas promoter.
Once this news got out, the company's already high valuation would skyrocket.
It would be a shame if I did all the work only for someone else to reap more of the rewards.
And on the day Fire Emblem joins us, JD will make a spectacular debut on the Korean stock market.
“Hello? Yes? Where did you hear that? We haven't finalized our position yet...”
...
“...That's a matter to be decided in consultation with the artist.”
It seemed the rumor that Lee Yoo-ah was in talks for an overseas debut had spread in a single day. I should've thrown reporter Shin Dong-min a bone.
-Is it true? That Lee Yoo-ah got an offer from Billboard Holdings?
“We've only been contacted about a meeting, so nothing has been decided yet. The artist herself isn't even fully aware of the situation.”
Sure enough, a call came from reporter Shin Dong-min, and the rumor spread like wildfire.
“Am I really going to America?”
Lee Yoo-ah rushed over to me as soon as I got to the office. Team Leader Lee was officially in charge of her, but everyone at the company seemed to be leaning on me.
“We haven't even had the meeting yet.”
“But they're saying I'm going.”
“Who is?”
“The articles online.”
This was the same Yoo-ah who'd said she'd rather fail in Korea. It was obvious what was going through her head. I began speaking with a serious expression.
“Going abroad without being mentally prepared can be terrifying. But this is a golden opportunity that few people out of the world's six billion ever get.”
“...”
A mix of anxiety and ecstasy was written all over Yoo-ah's face. Now that it was becoming a reality, she must have been overwhelmed with emotion.
No matter how much she disliked the idea of working overseas, I knew very well how joyous it was for a singer to be able to share their voice with the entire world. After all, before I returned to the past, my dream was to be an idol.
It had to be the same for the Yoo-ah standing before me now. It was just obscured by her immediate anxiety. I was certain that my role as her producer was to clear that away.
I tried to persuade Yoo-ah, whose face was still clouded with fear and tension, in various ways. Fortunately, my persuasion worked, and her expression gradually calmed.
“I'm going to secure a contract that's in the best interest of you and your family. Trust me and follow my lead. I'll make sure your dream comes true.”
“Okay.”
A faint smile touched Yoo-ah's lips as she gave her simple reply.
I'd successfully persuaded Yoo-ah, but I couldn't let my guard down yet. As long as Gyeon Sang-jin was determined to destroy JD Enter, protecting the now-successful Yoo-ah was too much for us to handle on our own. Even I couldn't manage both Answer and Yoo-ah.
Billboard Holdings would be a powerful backer for her.
We were already busy thanks to Answer, but with the sudden flood of attention from the industry, our company, especially the understaffed PR and marketing teams, was now stuck clacking away at keyboards and answering phones all day long.
We scheduled the meeting as quickly as possible. A single day's delay could mean hundreds of millions of won down the drain.
A lawyer fluent in both English and Korean relayed the promoter's position, and we began negotiations.
“They've proposed 15% of the profits in exchange for three months of promotion per quarter. This, of course, includes a management team familiar with the local scene. Conversely, JD Enter would give Billboard Holdings 15% of the net profit from schedules we manage for them in Korea. Wouldn't you say those are pretty good terms?”
“Let's make it 20%. In exchange, we'll only handle her domestic schedule for ten days, not a full month.”
Now wasn't the time to focus on the domestic market; it was time to spend every possible day abroad building her recognition. If it were up to me, I'd have asked for 25% and taken only a week of domestic schedules, but I had to have some conscience.
When I spoke up instead of CEO Park Jae-yong, the expressions on the contract managers' faces were priceless. I could practically see the unspoken complaint: 'Who's this young punk suddenly running his mouth?' I thought people overseas didn't have as much prejudice about age, but it seemed I was wrong.
The lawyer for Billboard Holdings relayed their response.
“What can you possibly do in just ten days? Subtract two days for travel and time for preparation...”
Yoo-ah's success was important, but frankly, I also had to consider JD Enter's practical situation. Right now, with Yoo-ah's success coming right on the heels of Answer's, JD Enter was in a very tight spot. We were already understaffed, and taking on Yoo-ah's schedule as well was too much of a burden.
Therefore, reducing the number of days we managed her in exchange for a higher percentage was far more advantageous for us. And, of course, it was much better for Yoo-ah, too.
“We plan to focus solely on domestic commercials and photoshoots, no events. If we schedule everything within the allotted ten days with minimal travel, the 20% revenue share going to Billboard Holdings will be nothing to scoff at. You'll be getting the best possible return on your time investment.”
We were already talking as if Yoo-ah were a top star. With Billboard Holdings openly backing her, she was guaranteed to rise to stardom, and the money from a single commercial couldn't be compared to what she'd make from some event.
“It's a good strategy, but 20% is too much. You don't seem to understand what putting together a management team entails. Accountants, lawyers...”
“We don't think it's excessive. In fact, just yesterday, we were still debating whether we should just book her overseas schedules directly ourselves.”
“Do you really think breaking into the overseas market without a local promoter is easy?”
this time, the contract manager said with a sneer.
“Do you know how K-pop became so successful?”
“...That's because video streaming sites became popular, making it easier to access songs from other countries...”
“That's not all. Our CEO, Park Jae-yong, is someone who has been personally working to pioneer the overseas market for a long time. You should look him up.”
The financial losses were just massive, that's all. It wasn't like CEO Park Jae-yong had achieved nothing. He'd even managed to get his artists to appear as opening acts for famous international singers and on popular TV shows. Again, I must emphasize, the financial losses were just massive.
CEO Park Jae-yong, who had been sitting quietly, puffed up with pride.
“Hahaha! I haven't done much. But Producer Min-jun, who's speaking now, is quite an incredible person himself. He was the main vocalist for Fire Emblem's final debut lineup.”
At the mention of Fire Emblem, a group even more popular overseas than in Korea, the contract managers' expressions changed. Seeing them exchange glances as if to ask if the others knew, I guessed they were seeing me in a new light.
It was only natural. While our group Answer was just starting to gain popularity in Korea with 1.1 million subscribers, Fire Emblem was an active, world-class idol group with a dazzling 80 million. If I had been the main vocalist of such a boy group, that single line on my resume was enough to become a global headline.
The contract managers were discussing in English, seeming uncertain. They must have figured that relaying this fact to the local promoter would surely be beneficial for Lee Yoo-ah.
“If I may add one more thing, the lyricist for Lee Yoo-ah's song is Oh Ro-si from the group I'm currently producing, Answer. She's a native Australian and an excellent actress. If you're interested, I'd like to discuss the possibility of entrusting Answer's future activities in the US and Europe to Billboard Holdings.”
CEO Park Jae-yong shot me a look that said, 'Isn't this going a bit too far?' but I paid him no mind and continued. If CEO Park were to accuse me of overstepping my authority, I was prepared to reveal my stake in JD Enter and show him that I was one of the company's de facto managers.
“Min-jun, let's take it easy.”
“Yes, sir. But 5% is no joke. I believe they can afford to give us more.”
I had steeled myself, but fortunately, CEO Park Jae-yong backed down.
Just then, one of the contract managers looked at the CEO and exclaimed in surprise.
“Oh! I finally remembered you.”
“Are you talking about me?”
CEO Park Jae-yong, who hadn't spoken a word of English besides greetings, asked with an expectant look on his face.
“It was when Della's song ‘You look like someone’ became a hit and she held a concert.”
CEO Park Jae-yong searched his distant memories for the man's face.
“An Asian man was handing out girl group promotional leaflets in the concert queue.”
“...Ah!”
CEO Park Jae-yong also gasped as if he remembered the man's face.
“You were Della's manager. Right?”
CEO Park Jae-yong shot up from his seat as if overjoyed to see him, and the other man stood up happily and shook his hand.
The sudden turn of events left both me and the other party looking bewildered.
Could the CEO's embarrassing history actually work in our favor?