Chapter 8

After conducting on-site investigations, the data was finally compiled and placed on Choe Jeong-won's desk.

Initially, it was thought that with the vast resources of the C.J Group, once they were integrated, the company could get back on track. However, the actual situation dealt Choe Jeong-won a heavy blow. The situation was far more complex and difficult than imagined. Looking at the data in his hand, Choe Jeong-won felt that the future was fraught with difficulties and challenges.

At Mnet TV, although there was an entertainment department with complete facilities, there were no artists, only a dozen trainees, making it essentially an empty shell. This was a far cry from the top entertainment company in Asia that he had envisioned.

The situation at the various subsidiaries was not much better.

SynnaraMusic was in a slightly better position, with a popular group Turbo (featuring O Myung-gi, skilled in rap, and the future triple crown winner Kim Jong-kook). The company was operating well, but it had a significant shortcoming: the large company had no trainees, lacking a solid reserve of talent.

Pledis Entertainment, Core Centens Media, and F&C Music were still in their infancy, with no active artists. They mainly earned profits by selling music production and choreography designs to other companies, more akin to music production companies than talent agencies.

In summary, the report revealed the true state of the company: one debut group, forty-two trainees, three composers, one dance instructor, and a fifteen-member backup dance team. There were no image designers, physical trainers, makeup artists, etiquette trainers, vocal teachers, or acting teachers.

There were five people with the qualifications of talent agents, but no other assistants. All the trainees' vocal lessons were taught by the three composers, and dance lessons were handled by members of the backup dance team. These minor figures were far from the entertainment empire Choe Jeong-won had envisioned.

Worse still, the headquarters and all subsidiaries combined had only two fully equipped recording studios. There was one medium-sized and two small practice rooms, but no large practice room. Each time the trainees trained, they had to avoid the artists' training times. In such a poor environment, even if there were promising talents, the company would not be able to retain them.

From a practical standpoint, even after integration, it would be impossible to achieve the envisioned goals. Competing with companies like S.M., JYP, and YG was a luxury. Not to mention the depth of their resources, which could not be compared. Entertainment companies also needed a brand. Why did S.M. attract so many excellent talents every year? It was because of its strong brand.

Pan Jeong-jin had already notified him that the shareholders' meeting would be held in ten days, and Choe Jeong-won's proposal had to be submitted within five days. This would allow for a comprehensive discussion at the family meeting and a final decision.

Choe Jeong-won's character was such that, though he appeared gentle, he was actually very decisive. Once he set his goal, he would not turn back. Otherwise, a poor boy from the countryside would never have risen to the position of artistic director. Reborn into a wealthy family, the comfortable living conditions did not change his character. Life had no retreat, and once he decided on a path, he would face any difficulties with determination.

After five days of intense effort, Choe Jeong-won finally produced a satisfactory proposal. For this plan, he had utilized all his knowledge and referenced all the classic business cases from his previous life. His hard work paid off, and he finally felt relieved looking at his labor.

However, he decided to first show it to his mother to gain her support. This would make it easier to pass at the family meeting. To be honest, the new proposal was extensive and required a massive amount of funds, which even he found daunting.

Pan Jeong-jin had high hopes for her son's first achievement, hoping for a pleasant surprise. She was indeed surprised, but not in a good way. The eldest daughter-in-law of the Choe family, who had weathered many storms over the years, instantly transformed into a mother tyrannosaurus, using her body language and verbal skills to brutally criticize the protagonist, "That's 400 billion won, not 4,000 won. Where am I supposed to get that much money?"

Choe Jeong-won laughed awkwardly, hurriedly soothing his mother. It took a great deal of effort to calm her down, and he inwardly mused, "Indeed, when a gentle person gets angry, it's even more terrifying."

He explained, "Actually, we don't necessarily need that much money. The main issue is that after integrating so many companies, we need to find a new business location. As you know, the real estate market is sky-high. Without this, it's impossible to find a suitable place. You wouldn't want the new company to be in Chungnam, would you? Additionally, the company lacks human resources and needs to acquire some smaller talent agencies to supplement. These are the main uses of the funds, and I have calculated them repeatedly. There's no way to save on these. The company needs to develop and grow quickly to catch the wave of the Korean Wave. This is a necessary path; otherwise, the company will stagnate. Mom, you must understand, in business, if you don't advance, you fall behind."

Pan Jeong-jin felt that her behavior in front of her son was a bit embarrassing and quickly returned to her desk, pretending to study the report to hide her awkwardness.

Calmly reviewing the report, she discovered its outstanding qualities. The report was well-written, well-supported, and logically structured, covering all aspects in detail. It not only detailed the company's current shortcomings but also foresaw future development prospects. There was hardly anything that needed modification or supplementation. Following the steps in the report, the company's future looked very promising. The only issue was the large amount of funds required.

However, the report successfully ignited Pan Jeong-jin's ambition. After being away from the business world for many years, she was now in charge of a large company. The public generally did not have high hopes for her, believing that after years of focusing on her family, she was no longer suitable for the current situation. This sentiment also affected the outlook for the C.J Group, with some shareholders already selling their shares at a low price.

Pan Jeong-jin's character was similar to her father, Pan Ki-moon. Though outwardly calm, she was extremely strong-willed. The more impossible a task, the more determined she was to prove herself.

After dismissing Choe Jeong-won, Pan Jeong-jin immediately convened a high-level meeting. The attendees all affirmed the feasibility of the report. Though concerned about the large amount of funds involved, they considered the Choe family's strength and generally supported the report. After all, it wasn't their money, so who would volunteer to oppose it? The support from the attendees gave Pan Jeong-jin great confidence, and she prepared to persuade Choe Jeong-won's grandfather at the family meeting.

However, to the surprise of both Pan Jeong-jin and Choe Jeong-won, the grandfather showed no hesitation or opposition after reading the proposal. Instead, he rarely praised Choe Jeong-won, "Not bad, the young are indeed formidable. I couldn't have done such a grand plan at sixteen. The Choe family has a successor."

Choe Jeong-won was flattered and bewildered. The old man was known for his strict and traditional approach, always setting high standards for his descendants. Praise from him was as rare as a tree blooming iron flowers.

The Choe family had always been small, with few descendants. Choe Si-won was too young to show any promise. As the eldest grandson, Choe Jeong-won had taken on a significant role at a young age and performed admirably. His uncles, Choe Ki-chan and Choe Ki-ho, looked at him with satisfaction.

Choe Jeong-won was not an ordinary teenager. He did not become arrogant due to a little praise and quickly corrected himself, "There are still many shortcomings in this report. Please, Grandfather, give it your critical review."

Choe Woo-dragon placed the report on the table and pondered for a moment, "The report mentions that the talent agency needs a new office building. Do you have any ideas?"

"Grandfather, I recently surveyed various locations in Seoul. A property in Sinchon is quite suitable and meets the company's needs," Choe Jeong-won said, handing over a document from his briefcase.

This property was located in Sinchon, a bustling area. It was close to Gangnam and other densely populated areas like Myeongdong. Sinchon itself had a good cultural atmosphere, making it an ideal location for an entertainment company.

Notably, this property was not a single building but a complex of seven buildings and a residential area, occupying a large plot of land separated from other buildings by streets. The complex had a large area and excellent greenery, even featuring a small park, making it more like a high-end residential area.

Each of the seven buildings was seven stories tall with a basement, arranged in the shape of the Big Dipper, a unique design that combined traditional and modern styles, fitting the company's image. The residential area had four high-end apartments nestled in the small park, providing a serene environment. Despite being in a busy area, the greenery isolated it from noise, making it suitable for the company's artists and trainees. Choe Jeong-won fell in love with the complex at first sight.

"Hmm, not bad, good eye. This property is modern and impressive. The convenient location and proximity to several TV stations make it a good choice. However, acquiring it will likely be costly," Choe Ki-chan considered from a practical standpoint.

"This property belongs to the Hyundai Group, with whom we have a long-standing relationship. I will personally negotiate with Chairman Chung Ju-young. We can offer some equity and additional funds. I believe Chairman Chung will be willing to help," the grandfather decided.

"In that case, the other restructuring activities for the new company will require about 200 billion won. This can be covered by the family's funds," Choe Ki-chan, who managed the family's finances, added.

"Grandfather, please convince Chairman Chung to register the equity we transfer under the name of Hyundai Heavy Industries," Choe Jeong-won suggested, having a significant insight.

"Oh, why do you suggest this?" the grandfather was puzzled.

"I've heard that Chairman Chung's health is not good," Choe Jeong-won hinted, knowing the Choe family and the Chung family had deep connections. He believed his grandfather would understand his implication.

Chairman Chung Ju-young of the Hyundai Group would pass away the following year, leading to the division of the Hyundai Group. He had eight sons and one daughter. His eldest son, Chung Mong-joon, died in a car accident in 1982. His fourth son, Chung Mong-ryul, committed suicide due to illness in 1990.

Currently, the influential figures in the Chung family were the second son, Chung Mong-koo, the fifth son, Chung Mong-hun, and the sixth son, Chung Mong-joon. After the division of the Hyundai Group, Chung Mong-koo took control of Hyundai Motor Group and later went to prison, forcing his uncle out of the company. Chung Mong-hun, the chairman of Hyundai Group, faced multiple internal and external pressures, leading to his suicide, with his wife, Hyun Jung-eun, taking over.

These two were not ideal partners for the Choe family. Only Chung Mong-joon, who controlled Hyundai Heavy Industries, was a future ally. He was not only the president of Hyundai Heavy Industries but also the vice president of the Asian Football Confederation, a member of the National Assembly, and a member of the Grand National Party. He was instrumental in bringing the 2002 World Cup to South Korea, making him highly respected domestically. Although he failed in his 2002 presidential bid, he remained active in politics and had significant influence. Even in 2012, he was preparing to run for president again.

Building a relationship with him was crucial for the Choe family's future. If Lee Myung-bak followed the same path as in his previous life, Choe Jeong-won would not rule out changing allies. After all, the long-term prosperity of the Choe family was the most important. Politics was about interests, not friendship.

Choe Woo-dragon instantly understood his grandson's intentions, impressed by his foresight. He thought he had already grasped his grandson's talents but realized he had underestimated him. "Why not Chung Mong-koo or Chung Mong-hun, but Chung Mong-joon?" The old man referred to them by their nicknames.

Choe Ki-chan, who had more interactions with the Chung brothers and knew more about the internal dynamics, interjected, "It's better to leave it to Chung Mong-hun. Chairman Chung Ju-young has been grooming him." The grandfather nodded, agreeing with his son's opinion.

Choe Jeong-won spoke earnestly, "Grandfather, Father, don't you see? In this situation, whoever succeeds as the chairman of Hyundai Group will be the target of criticism. The other two brothers and their uncle will always be watching, unwilling to let go. Moreover, the two most profitable parts of Hyundai Group have been separated. Although Chung Mong-hun may become chairman, his fate is almost predictable. Chung Mong-koo's style is often underhanded, and he will likely become a target for criticism."

Giving the elders some time to digest this, he continued, "Only Chung Mong-joon is a better choice. His reputation is growing, and even if he doesn't succeed this time, he won't be discouraged. The future cooperation potential between our Choe family and him is significant."

"Jeong-won, come sit next to me," the grandfather patted Choe Jeong-won's head, laughing heartily, "In ancient China, Huo Qubing, who was not yet twenty, led his army to defeat the Xiongnu. I never thought my eldest grandson would be such a remarkable talent!" The old man had been depressed for years due to the Choe family's small size and the lack of outstanding talents in the second and third generations. Given the Choe family's deep involvement in politics, their decline was inevitable without a standout representative. Now, with his eldest grandson's impressive performance, the old man felt greatly relieved.

"Grandfather, you flatter me. I am still young. My insights may be commendable, but they are just flashes of inspiration. To live up to expectations, I need more experience," Choe Jeong-won humbly responded. Pride and complacency over minor achievements were foolish. He had not yet secured the position of executive director of the new company, so he could not afford to be careless.

"Grandfather, is there any issue with the personnel appointments for the talent agency?"

Choe Woo-dragon, a seasoned veteran, saw through his grandson's bright, expectant eyes. He affectionately patted his cheek, "Little rascal, don't look at me like that. My intention was to let you continue your studies."

Seeing Choe Jeong-won's face darken, he quickly added, "However, I asked your private tutor, and he said you are fully capable of attending university. So, it's fine if you don't go." Choe Jeong-won, with a master's degree in media from the University of California, was well beyond the level of a Korean high school.

The grandfather made the final decision, "So, your request to serve as the executive director of the talent agency is approved. However," Choe Jeong-won's heart tightened, fearing some difficult condition, "you must attend university in the future. Only through learning can one continue to progress, right?"

Choe Jeong-won breathed a sigh of relief. University was three years away, and he would deal with it when the time came. University courses were relatively easy, and he could easily obtain a degree. Having a degree would also help avoid future complications, as the country placed a high value on education.

"Another thing," the grandfather brought Choe Jeong-won back to the present, "your mother mentioned a board member named Kim Gwang-soo, who is very capable and suitable to be the president of the talent agency. Why did you recommend him to be the head of the TV station in your proposal?"

Kim Gwang-soo was another significant challenge for Choe Jeong-won. He carefully responded, "I reviewed Kim Gwang-soo's file. He graduated from a media program and had a brief stint at MBC, making him familiar with TV station operations. The original head of Mnet recently left, so I recommended him. I thought it would be a good fit for his expertise."

In reality, Kim Gwang-soo's position was quite awkward. In Core Centens Media, he had already reached a certain level. If history remained unchanged, he would take over as the representative of Core Centens Media in the next personnel change. Now, with the merger, his experience made him a natural choice for the new president. However, Choe Jeong-won feared he would repeat his past mistakes, so he recommended him for the head of Mnet, which had recently lost its leader.

At the TV station, he could only affect the programs, not the people, and his morally questionable methods would be less impactful. Moreover, with his restless nature, he would likely bring many new and exciting changes to Mnet, potentially making it even stronger than in the original timeline. The head of Mnet had more power than the representative of Core Centens Media, so Choe Jeong-won's recommendation was a significant promotion. In the end, Kim Gwang-soo would only be grateful.

"However, the restructuring of the new company has been delayed for so long. Without a president in place, many tasks cannot proceed," Choe Ki-chan analyzed. Seeing his