Chapter 100

ps: Thanks for the support, but as a new author, I forgot to acknowledge the rewards at the end of the chapter! Please follow and support me! I beg you! I beg for recommendations! Thank you for the recommendations and the encouragement from the readers of the book! I will work hard!

Park Jiho walked downstairs and called a taxi to head back. He didn't hear the girls' screams, but before he even got halfway, his phone rang. It was a number he didn't recognize. When Park Jiho answered, he was stunned—it was a call from the Korean National Tax Service, telling him to pay his taxes quickly or face a fine!

This shocked Park Jiho. He finally remembered that he hadn't paid his personal income tax after selling his songs. Without hesitation, he told the driver to head to the tax office. However, when he received the tax bill, he was completely stunned. The bill stated that he owed 140 million won!

Seeing this, Park Jiho was dumbfounded. He immediately rushed to the counter to ask if there was a mistake, but after the tax office staff verified it, there was no error. Park Jiho indeed owed 140 million won.

Since the verification was correct, Park Jiho realized that he must have received a large sum of money that the authorities knew about, otherwise, the tax office wouldn't be so urgent in collecting the money. But if even the authorities knew, why didn't he? He had to call and ask Yoo Jae-suk what was going on.

After some investigation, Park Jiho learned that the money came from his two songs, "Mr." and "Naengmyeon," which had all-killed on music streaming sites. Each time a song all-killed, the site rewarded 100 million won. "Mr." all-killed five times, earning 500 million won. As the songwriter, Park Jiho received 20%, or 100 million won, with the site taking 40%, the company 30%, and the artist 10%. For "Naengmyeon," all the rights belonged to Park Jiho, so the company didn't take 30%. "Naengmyeon" all-killed for five days, earning Park Jiho 250 million won.

With a total of 350 million won, Park Jiho had to pay 40% in taxes, which amounted to 140 million won.

Paying 140 million won out of 350 million won made Park Jiho feel extremely aggrieved. With such a high tax rate, he felt like the government was going to bleed him dry. After paying the tax, he called Yoo Jae-suk to ask how much tax he had to pay. Yoo Jae-suk's response left Park Jiho speechless—because Yoo Jae-suk had a company, he only had to pay 10%!

The huge difference made Park Jiho have a thought!

(The tax rate mentioned here is purely fictional, please don't get hung up on it. It's just for the setup of the next female lead. To be honest, this female lead was added based on reader comments. Guess who she is! Hehehe!)

After paying 140 million won in taxes, Park Jiho returned home with a heavy heart. The first thing he did was open his computer to search for how to establish a personal company. He found many examples of artists setting up one-person entertainment companies, such as Kwon Sang-woo and Ha Ji-won. The conditions for setting up a one-person entertainment company were simple: you needed 100 million won as startup capital.

Park Jiho still had 210 million won after paying the tax, so he could easily set up a one-person entertainment company. This would save him 30% in taxes, so why not? Without hesitation, he left home to register a company called Jiho Entertainment, with the English name JH Entertainment!

To Park Jiho's surprise, setting up his one-person entertainment company took less than half a day, as such companies were already very common in Korea.

Moreover, when he completed the registration, the office even gave him a box of business cards. The card read: "Park Jiho, President of JH Entertainment."

He laughed wryly, thinking that he had become a president so easily. It was a good start!

Thus, without fanfare or flowers, the future JH Entertainment, which would drive Korea into a frenzy, was born. Park Jiho would never have guessed that this casual action would bring such incredible honor to the Korean entertainment industry, making JH Entertainment the strongest entertainment company in Korea and even Asia!

And soon, the first major player to join JH Entertainment would meet Park Jiho. This player's achievements in the Korean entertainment industry would be recorded in Korean history! (Guess who this player is? You probably already know!)

After setting up the company, Park Jiho received a call from Kim Young-min, asking him to discuss copyright issues. Park Jiho was delighted; he had just set up his company and already had business. He was truly a genius!

However, when he arrived at S.M. Entertainment, it wasn't Kim Young-min who met him, but one of Kim Young-min's subordinates. The person was quite polite, asking if he wanted water, tea, or coffee. Park Jiho knew immediately that this was a setup.

Sure enough, the person offered 10 million won to buy all the rights to "Gee." Seeing Park Jiho's narrowed eyes, the experienced negotiator quickly added, "We can guarantee that you will continue to produce the next album!"

Park Jiho didn't know what to say. Why did big companies always treat him like a rookie? Was he too easy to talk to, or was this an unwritten rule for big companies? He remembered that Tiger JK had only paid 100 million won for 40% of the rights to "The Woman Who Can't Be Separated, The Man Who Can't Be Separated," and he was overjoyed, shouting that he wanted to be brothers with Park Jiho for life. Was this the difference between big and small companies?

Seeing that Park Jiho wasn't speaking, the negotiator asked carefully, "How about it?"

Park Jiho slowly stood up and smiled at the negotiator. "Tell President Kim that I won't sell the rights to 'Gee.' However, if you want to use the song, I can give you the usage rights for free. 10 million won, I don't need that much. This song is a promise to Lin Yoon-a, and it has nothing to do with your company. Use it if you want, and I'll be at peace. That's all. I'm leaving."

With that, Park Jiho left without looking back.

(The usage rights of a song mean that if a company has the usage rights, they can use the song for free in concerts, CDs, advertisements, variety shows, and music programs. This is a personal fabrication!)

Park Jiho's words quickly reached Kim Young-min's ears. After hearing the report from his subordinate, Kim Young-min sat in his office, frowning. "Young people these days are so ungrateful!" He then smiled and instructed his subordinate to immediately start recording "Gee." Since it was free, they might as well record it. They could release it as an EP, and the board wouldn't have any pressure since it was a free song. If the song became popular, Kim Young-min believed he had the means to make Park Jiho give up the rights completely.

...

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