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.”
“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.”
“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.