Chapter 9

In the office of the head of S.M Corporation's overseas business division, Kim Young-min, who had just turned thirty, sat silently in his chair, his eyes fixed on the smartphone he was fiddling with, his brows furrowed, seemingly hesitant about an important decision.

"Should I go or not?" Kim Young-min asked himself.

Not long ago, he received a call from a headhunting company, which said that a large entertainment company greatly admired his abilities and wanted to invite him to serve as their representative. If he was interested, he was asked to meet the company's representative at a designated time and place for detailed discussions.

Even a month ago, if he had received such an invitation, he would have hung up without hesitation. Was there a better entertainment company in Korea than S.M? True, S.M wasn't the wealthiest, and it only had four artist groups, but anyone with a brain could see the company's growth potential. As someone responsible for a significant part of S.M's operations, why would he consider working for another company?

Kim Young-min joined S.M in 1999 and immediately became the head of the overseas business division. At the time, he was full of ambition, determined to make S.M an internationally renowned entertainment company. He believed that with his abilities, he could achieve great things. And indeed, he did.

So far, the company had successfully expanded into the Japanese market, and he had single-handedly broken into the Chinese market, which many thought was impossible. This ancient country was now experiencing a renaissance, and the vast potential of its cultural and entertainment market was keenly perceived by Kim Young-min. He proposed S.M's China strategy at a company decision-making meeting.

This strategy proved to be a resounding success, and the returns from the Chinese market were immeasurable. S.M leaped to the top of the Korean music industry, far outpacing JYP, YG, and DSP.

This was evident from the trainee selection event held at the beginning of the year, which was co-hosted by S.M, JYP, YG, and DSP. Among the trainees who passed the selection, over 80% chose S.M, much to the chagrin of the other company representatives present.

In June, through his relentless efforts, Kim Young-min finally secured official approval from the Chinese authorities, and S.M's China branch was set to open in Beijing next year. This move made him a rising star within S.M, unmatched in his influence.

Everything seemed perfect, and Kim Young-min felt that his life's goal was here. However, a series of events last month left an indelible mark on his heart.

First, it was a chance encounter. When Kim Young-min went to report to Lee Soo-man, he saw HOT members Jang Woo-hyuk and Tony walking out of Lee's office, their faces bruised and swollen. His first thought was that they had been punished by the board member. In Korea, where hierarchy is strictly observed, it was common for elders and superiors to physically discipline their subordinates. Despite their disheveled appearance and Jang Woo-hyuk's bleeding arm, Kim Young-min didn't think much of it, assuming they had committed a serious offense and were punished harshly.

However, when he entered Lee Soo-man's office, he realized the situation was far more serious. The office was in disarray, with papers scattered everywhere like a thick layer of snow. Broken glass was everywhere, making it difficult to move around. Even the heavy bookshelf was overturned, and many books had fallen out. Lee Soo-man's solid, antique wooden desk was out of place.

Inside the office were only Lee Soo-man and his two bodyguards, all looking disheveled. Lee Soo-man was sitting in his chair, breathing heavily, his expensive suit torn in several places, his left eye black and blue, and his hair disheveled. His eyes were filled with a fierce, predatory glare. The bodyguards were also in bad shape but were busy tidying up the room.

This indicated that it wasn't just HOT's members being punished; it was a mutual fight between the company's shareholder and board member, Lee Soo-man, and two members of the popular group. In Korea, such behavior from juniors and subordinates was considered a grave act of disrespect, with severe consequences. The fact that Jang Woo-hyuk and Tony had done this suggested that HOT was already at odds with the company.

However, with Lee Soo-man in a rage, Kim Young-min, as an employee, didn't dare to intervene. He simply reported his work and left. But this incident left a shadow over his ambitious heart.

He expected HOT to face severe punishment, even being put on ice. But everything remained calm, and Lee Soo-man took no action, as if nothing had happened.

Although SES was starting to gain recognition and H.O.T. had recovered from their debut failure last year, HOT was still the backbone and main source of profit for S.M. Moreover, HOT was crucial for Kim Young-min's future overseas expansion plans. He couldn't believe that Lee Soo-man, known for his cold-blooded nature, would let this slide.

With this in mind, Kim Young-min reviewed all of HOT's records and discovered a problem. After the fight, HOT's schedule suddenly increased to 27 events in a week, with up to 12 events in a single day. Kim Young-min, no stranger to the entertainment industry, understood the implications. Lee Soo-man was trying to squeeze every last bit of value out of HOT before discarding them like trash.

Lee Soo-man's ruthless actions chilled Kim Young-min to the bone. He wondered if he would also be discarded without mercy in the future.

As a business newcomer from a prestigious university, Kim Young-min believed that a company's growth and success depended not only on strength and reputation but also on corporate culture and humanistic values. HOT, as the top group in Korea and arguably Asia, had a large fan base and significant influence. Their every move could generate major news and public opinion.

Over the years, S.M's growth to its current scale was largely due to HOT's contributions. Dissolving HOT would cause a public uproar, and the company's reputation would be severely damaged by the exposure of its exploitation of artists, unfair contracts, and physical abuse.

While these consequences wouldn't necessarily bankrupt S.M, they would provide opportunities for competitors. JYP, YG, and DSP would not miss this chance, and the Korean entertainment industry would no longer be dominated by S.M. Long-time rivals would seize the opportunity to catch up.

With the company's long-term interests in mind, Kim Young-min proposed at a decision-making meeting to revise HOT's contract and reduce their workload to mend the rift. However, this led to a severe reprimand from President Kim Young-wook, board member Lee Soo-man, and executive Yang Young-jae. Lee Soo-man accused him of meddling and having ulterior motives. If not for his significant contributions to the company's overseas expansion, he might have been fired.

Reflecting on the outcome of his well-intentioned suggestions, Kim Young-min felt humiliated and began to doubt whether joining S.M was the right decision.

If being criticized by his boss as an employee was bearable, the incident in late August was the final straw. While reviewing the overseas business division's financial records, he found that out of the 20 billion won allocated, only 15 billion had a clear record, with the remaining 5 billion unaccounted for. This suspicious discrepancy alarmed him, and he immediately summoned the accountant responsible for the division's independent accounting. The accountant revealed that the records were submitted by President Kim Young-wook's secretary, with all details approved and signed by the president.

Kim Young-min was furious. This was a serious case of embezzlement and corruption that could destroy the company and implicate him. Initially, he planned to report Kim Young-wook, but after considering the consequences, he was forced to hold back.

What many didn't know was that President Kim Young-wook and Kim Young-min were brothers. Kim Young-wook was the eldest, while Kim Young-min, the fourth, was often overlooked. If he reported the incident, Kim Young-wook could easily deflect the blame, but Kim Young-min would suffer. (In the future, Kim Young-wook was arrested for embezzlement and corruption, and Lee Soo-man was summoned by the Korean prosecutor. Kim Young-min took over as CEO of S.M.)

These events made Kim Young-min desperate to escape the family's control. He had ideas for a new start but was reluctant to abandon his ongoing work. When the headhunting company approached him, it added significant weight to his decision.

When Kim Young-min arrived at the agreed-upon café, Choi Jung-won had already been waiting for an hour. In a previous life, Choi Jung-won's entertainment company had collaborated with S.M, and he had met Kim Young-min. Seeing the younger version of Kim Young-min now, he couldn't help but feel a sense of change.

Compared to their last meeting, Kim Young-min was less refined and more youthful and energetic. He had just graduated from university and still carried a strong academic air and idealistic fervor, far from the seasoned business fox he would become.

Choi Jung-won stood up to greet him, extending his right hand and smiling, "Mr. Kim, it's a pleasure to meet you."

Kim Young-min stared at the clearly underage teenager, doubting if he was being tricked. He had expected to meet a middle-aged executive or a senior company representative, not a teenager. "Kid, do you even have the authority to make decisions?"

Choi Jung-won, anticipating Kim Young-min's reaction, was unfazed. "I am Choi Jung-won, currently responsible for the daily administrative affairs of C.J Group. It's an honor to meet you, Mr. Kim."

Kim Young-min, regaining his composure, replied, "The pleasure is mine, Mr. Choi. You are a young talent with a bright future, and I am honored to meet you." Despite Choi Jung-won's youth, he approached the meeting as an equal, so Kim Young-min put aside his initial skepticism.

"Would you like some coffee, Mr. Kim?" Choi Jung-won asked warmly.

"Blue Mountain will be fine," Kim Young-min replied, his mind preoccupied with his decision.

Choi Jung-won signaled the waiter and ordered a Blue Mountain and a Colombian.

From Choi Jung-won's introduction, Kim Young-min sensed something unusual. "What is your relationship with the Choi family of C.J Group?" The recent news of the First Sugar's split and government intervention had been widely publicized, making it hard for Kim Young-min to ignore.

Choi Jung-won, knowing that his identity couldn't be hidden and that there was nothing to hide, decided to be straightforward. "Choi Ki-chan is my father."

Kim Young-min was impressed. The Kim family had a distant blood relation to the current president, Kim Dae-jung, and belonged to the New Millennium MZ Party, which was in fierce competition with the Grand National Party. Kim Young-min paid close attention to the internal dynamics of the Grand National Party.

He was surprised to learn that the teenager before him was a direct descendant of the Choi family. "I assume you have investigated my background. I am honored to be considered by your company, but don't you think it might be inappropriate for me to join?"

"I admire your strategic approach at S.M and believe your joining will bring a significant leap to C.J Entertainment. This is a purely business decision," Choi Jung-won emphasized his personal role to add weight to his words. The Choi family was on the periphery of the company's power structure, and Kim Young-min was not highly regarded within the family, so this move had no political implications.

"Which subsidiary will I be responsible for?" Kim Young-min, familiar with the recent resignations of Mnet's subsidiary representatives, asked.

"Ha ha, not a subsidiary. We at C.J have decided to reorganize all our entertainment companies into one. With the combined strength, we believe we can secure a significant position in the industry," Choi Jung-won said, trying to sound casual.

Kim Young-min was not impressed. Even after the reorganization, the new agency would be a behemoth. "From what I know, your subsidiaries are resource-poor. Even if they merge, they won't have the advantages of a large entertainment company. Moreover, how will you address the operational space issue?" He doubted that the current C.J headquarters could accommodate all the departments.

Choi Jung-won was prepared and handed over a document to Kim Young-min. "We have detailed plans for these issues. Please review them." He was sincere in his invitation and transparent in his approach.

The document included a comprehensive acquisition plan and other strategies, more refined than the version presented to the Choi family patriarch. It also addressed the use of the new building in Sinchon, which C.J Entertainment had secured with a 15% equity stake and 150 billion won in cash from Hyundai Group's chairman, Chung Ju-young, just the day before.

Kim Young-min became increasingly excited as he read. C.J's plan aligned with his ideals. S.M seemed powerful, but its scope was limited. The numerous constraints in a small entertainment company made it difficult to achieve his goals. Only a large-scale plan like this could match the ambition of a major entertainment company.

After a long while, he finished reading, took a deep breath, and closed the document. "What are the company's plans for its artists?" If C.J was another blood-sucking company like S.M, he would have to stay away. His modern business management education made him skeptical of traditional operating models.

Choi Jung-won was pleased. Kim Young-min's use of "the company" indicated he was starting to see himself as part of it. However, he didn't give a direct answer. "These decisions will depend on the actual situation. However, I want to emphasize that S.M's treatment of HOT is not popular and will not yield good results. This will not be C.J's approach." He spoke with firm resolve.

Kim Young-min was satisfied with the answer. He wasn't an unrealistic idealist. In Korea, it was unrealistic to expect entertainment companies to treat artists as well as in China. The economic environment and high operational costs made it difficult. Entertainment companies were for profit, not charity.

"Lastly, what are the company's plans for my compensation?" Kim Young-min asked, showing no hesitation. This indicated he was a competent businessman.

Choi Jung-won finished his coffee, placed the cup down, and it made a "ding" sound, like a final decision. "An annual salary of 5 billion won and 5% equity in the company. I believe this will satisfy you."

Such a generous offer was impossible to refuse. Kim Young-min felt a weight lifted. "Give me fifteen days to prepare, and I'll be ready to start."

Choi Jung-won extended his hand. "Looking forward to our future collaboration."