Peninsula: These female celebrities are all so neurotic.

Chapter 103 No matter how difficult, we must try our best (7k)

When Park Hyun-woo arrived, Liu Zimu was leaning against the bar, drinking a latte and looking at the comments below the video.

Park Hyun-woo paused on the photo wall for a few seconds, then walked to the bar and nodded slightly: "Mr. Liu."

Liu Zimu put down his cup and gestured towards the empty table in the corner.

The two sat down, and Liu Zimu told him about Jin Qiutian.

Park Hyun-woo put down his briefcase, took out a tablet from the inner pocket, unlocked it, and swiped his finger across the screen a few times.

"I've checked with Starship." He spoke in the same tone, as if reading a prepared script. "Jin Qiutian is currently a B-level trainee. Her contract doesn't have any special clauses, and the company doesn't seem to value her much. If they really wanted to, getting Jin Qiutian to leave wouldn't be difficult at all."

Liu Zimu did not respond.

Park Hyun-woo looked up at him, then looked down again and continued scrolling: "Kim Qiu-tian joined Starship last year, and her trainee contract still has a few years left. But with the resources you have now, if Kakao puts a word to you, Starship won't turn against you for a B-level trainee. The simplest way is to get Kim Qiu-tian and her guardian to terminate the contract voluntarily; the termination fee is negligible."

"Grade B?" Liu Zimu frowned.

"That's an internal rating system within entertainment companies. Grade A refers to those who are being groomed for future success, like Jang Won-young and Ahn Yu-jin. Grade B refers to those who are being groomed for future success, like Kim Jong-il, who didn't even get to participate in the Produce 48 audition this year. Their company didn't invest many resources in them, so their chances of debuting are lower."

As Park Hyun-woo spoke, he turned the tablet around. On the screen was Starship's trainee ranking chart, with Kim Qiu-yu's name in the third row, followed by a series of notes.

Liu Zimu stared at the words for a while before pushing the tablet back: "So?"

"So you now have two choices." Park Hyun-woo put down his tablet and placed his hands on the table, crossed them. "First, let Starship continue to fulfill the contract, but put pressure on them through me to ensure they get A-level treatment and a debut guarantee in the fall. However, this might cause a backlash from Starship, since they are essentially an independent label under KakaoM with independent operating authority. We can't directly influence their operations; we can only exert pressure indirectly. Second, just take her out of Starship and arrange things for her yourself. This is the simplest and most direct option."

Liu Zimu leaned back in his chair and stared at the ceiling for two seconds.

Park Hyun-woo waited a while, and seeing that he didn't speak, he added, "Mr. Liu, if Kim Qiu-ti is willing to debut, the second plan is more secure. That way, she will have far fewer troubles. It's always better for family to be watching than for others to be watching."

Liu Zimu didn't answer. He stood up and extended his hand: "Thank you for your hard work. You can go back now. I'll contact you if I need anything."

Park Hyun-woo paused for a moment, but didn't ask any questions. He stood up, bowed, picked up his briefcase, and left.

It was almost seven o'clock when the golden autumn arrived.

She still hadn't changed her school uniform, and her backpack strap had slipped down to her elbow. She tried to pull it up, but couldn't, so she just left it hanging there.

She glanced at the whiteboard as soon as she entered; there were quite a few new messages.

She walked to the bar, put her bag down at her feet, and looked up at Liu Ziming: "Oppa, did someone from our company come looking for you?"

"Um."

"Our director came to see me last night too." Jin Qiutian drew circles on the bar counter with her finger. "He said the company plans to have me debut next year."

Liu Zimu was wiping the cups, her hands still moving: "What did you say?"

Jin Qiutian lowered her head, staring at her fingers as she drew circles: "I said I haven't decided yet, although I'm still really looking forward to it."

Liu Zimu hung the cleaned glasses on the rack, turned around, leaned against the bar counter, crossed his arms, and looked at her.

Jin Qiutian looked up, her eyes filled with a seriousness Liu Zimu had never seen before: "Oppa, can I ask you a question?"

"explain."

Do you think I could succeed if I debuted now?

Liu Zimu stared at her for a few seconds, then walked around from behind the bar and went to the photo wall.

Jin Qiutian followed behind him, and the two stood side by side in front of that wall.

"Jin Qiutian, listen up." Liu Zimu turned around and looked at her. "Your debut now isn't a question of whether you can succeed."

Jin Qiutian swallowed hard.

"When you asked me that question, you were doubting yourself, wondering if you could do it?"

Jin Qiutian's face froze.

"Your basic dance skills aren't bad, but they're just average. If you debut now, do you think fans will like you?"

"But..." Jin Qiutian's eyes reddened, "But doesn't everyone like me?"

Liu Zimu's tone remained calm: "Because you're still a trainee, because Bae Joo-hyun and the others are going crazy with us, and because our videos are interesting, that's why so many people watch them. It's that simple."

This statement contains neither sarcasm nor consolation; it is simply a statement of fact.

Jin Qiutian finally realized what was happening, but suddenly felt a pang of sadness.

Yes, if she were all alone in the autumn, would these seniors even pay attention to her? Would they even watch her dance?

And all of this is because of the man in front of me.

"Oppa, what should I do?" She looked up, her eyes weren't red, but her lips were pursed tightly.

"Keep practicing until people who are better than you respect you, until your company no longer dares to treat you as a B-level employee, until when you stand on the stage, everyone will come to see you and applaud you."

Jin Qiu stared at him for two seconds, then suddenly laughed: "Oppa, you're really rude."

"Why should I be so polite with you? You're not my guest."

Jin Qiutian chuckled, then stopped laughing, looked down at the tips of his leather shoes, and kicked the floor twice.

"Oppa".

"What do you want to say now?"

"What if I say I don't want to wait anymore, or I still want to debut?"

Liu Zimu looked at her; the little girl was tilting her head back, and the top button on her school uniform collar wasn't fastened yet.

"Then go ahead and debut." Liu Zimu said this in the exact same tone as before, "If you want to debut, that's your business, I'm not your guardian."

Jin Qiutian's eyes widened.

"But you need to think this through." Liu Zimu didn't give her a chance to interrupt. "If you debut now, the best outcome for you is being crammed into WJSN (Cosmic Girls), because your company has never been able to launch a new girl group before: either you'll be forced to go down the variety show route."

So either you're an ordinary girl group member nobody likes, or you become a variety show personality who debuts out of nowhere—basically, you won't make a splash, and the company will just freeze you out.

"As for a solo career, with your current skills, debuting would only make you cry from all the criticism." He paused for a moment. "So, don't rush it. Wait until you're ready before debuting, then you'll be the one standing in the center of the stage. Let me tell you, this feeling isn't just mine, it includes all the unnies you know."

Jin Qiutian was completely dumbfounded. Did she really think she was that bad now?

The wind chimes at the shop entrance rang once, and two customers entered. Li Zhenxi went up to greet them.

Jin Qiutian was still standing there, staring at her own deadpan photo on the photo wall.

In the photo, she is pouting, looking unwilling, while Liu Zimu stands next to her, looking as calm as if he were shopping in a supermarket.

She suddenly spoke up: "Oppa, you're so good to me, how can I ever repay you?"

Liu Zimu flicked her forehead: "What are you talking about? Practice hard, and when you debut, you'll be the spokesperson for my coffee shop, the kind that gives you discounts. By the way, if your company wants you to switch to an exclusive trainee contract, you need to make sure you explain to your parents that you're not switching for now, understand?"

Jin Qiutian covered her forehead, but this time she didn't cry out in pain. Looking at Liu Zimu's serious expression, she nodded.

She lowered her head, took out a notebook from her schoolbag, opened it to the first page, and handed it to Liu Zimu.

The notebook pages were a little wrinkled, and a line of text was written on it in blue ballpoint pen: "Autumn Dream List"

First requirement: [Become a formal trainee before 2019. A checkmark is placed next to it.]

Second requirement: [Debuted before 2020. (The rest is blank.)]

Article 3: [Saving money to buy a bigger house for my parents. (Blank)]

Article 4: [Make the president proud. Blank, but with a smiley face drawn next to it.]

Liu Zimu stared at the smiling face for two seconds, then closed the notebook for her and stuffed it back into her bag: "Your handwriting is really ugly."

"Oppa!" Jin Qiutian's face flushed red instantly. "Can't you even say one compliment to me?"

"I'll praise you after you debut."

Jin Qiutian snorted: "Oppa, I'm not in a hurry. I'll wait until you feel I'm ready before I consider it."

Liu Zimu patted her head and started to get busy.

When Liu Zimu came out of the bathroom after returning home that evening, Cui Xueli was sitting cross-legged on the bed, fiddling with her phone.

He was only wearing a bath towel, and his hair was still dripping wet.

She looked up at him, pouted, and stretched out her hands: "Oppa, hug me."

"Wait a minute, your hair is still wet." Liu Zimu dried her hair with a hairdryer before going over to sit on the edge of the bed.

She immediately coiled around him like a snake, hanging on him with her chin resting on his shoulder and her nose rubbing against his neck.

"You look so tired today. Did our Autumn-senpai become popular again?"

Liu Zimu shook his head, patted her waist with his hand, and said, "No, Zhenli, I have a question for you."

"Yes." She buried her face in his neck.

"You really haven't thought about leaving SM?"

Choi Sulli tilted her head back, squinted at him, and said in a slightly cheeky tone, "Yes, I dream about it. I want to work with you in a coffee shop, selling coffee. So, does that mean you're supporting me?"

"Yes! I'll take care of you." Liu Zimu said earnestly.

She paused for a moment, then pushed his chest lightly: "You're going to support me, but will you pay for all my breach of contract fees? You know what kind of people Kim Young-min are; he'll skin the artists alive before he releases them. I don't want him to get away with it."

"I'm serious, I'm taking all five of you with me."

Sulli's brows furrowed slowly. She rolled off him, turned to her side, and propped her head up with one hand: "Oppa, what exactly are you trying to say?"

"F(). They bought F()'s brand copyright, songs, trademarks, and even the person and their merchandise from SM."

The room fell silent.

Choi Sulli stared at him for almost ten seconds to make sure he wasn't joking.

Then she laughed, laughing so hard she collapsed onto the pillow, burying her face in it, her shoulders shaking.

Liu Zimu stared blankly at the pillow: "What are you laughing at?"

She lifted her head from under the pillow, her face flushed with a smile, and a few tears welled up in her eyes: "Oppa, let's forget about it, that's not realistic. At worst, I'll just wait it out for two more years, and when the contract expires, I won't sign it anymore. I'll just focus on selling coffee with you, and travel around whenever we have time. That's what life is all about."

"I have money."

"How much money do you have? The money in your bank account really isn't enough." She reached out and pinched his cheek. "Besides, Lee Soo-man is a very controlling person. He won't sell the brands. He's used to having a firm grip on the past and future of his artists."

Liu Zimu pulled her hand down and didn't say anything.

Seeing that he remained silent, Choi Sulli assumed the conversation was going nowhere, so she leaned back, wrapped her arms around his neck, and said in a soft voice, "Oppa, I know you want to make me happy. But the company will never sell our core intellectual property, such as the group name and our songs."

Liu Zimu sighed and patted her bottom: "Alright, go to sleep."

The next morning, Liu Zimu called again and invited Park Hyun-woo to the coffee shop.

At 10 a.m., the store had just seen off a group of fans who had come to join the fun.

Jin Qiutian is still in class and hasn't arrived yet.

Her situation is just about one trainee, so it's not a big problem.

When Park Hyun-woo entered, he was still dressed in the same suit and tie as yesterday, carrying a briefcase.

He walked over and sat down opposite Liu Zimu.

Liu Zimu asked Li Zhenxi to make him a cup of coffee, then said to Park Hyun-woo, "Manager Park, I'm sorry to have troubled you again, but I have important business to attend to today."

Park Hyun-woo picked up his coffee, took a sip, put down the cup, opened his briefcase, took out his tablet and notebook, and held the pen above the paper: "Go on."

Liu Zimu leaned back in his chair, his hands crossed over his stomach: "I want to buy F() from SM Entertainment. The brand, trademarks, song copyrights, master tapes, video footage, contracts for all five members, overseas distribution rights—everything. Can you help me assess the feasibility?"

Park Hyun-woo's pen remained still on the paper.

He remained quiet for a while, then suddenly put down his pen, picked up his coffee and took another sip. This time he drank it a little too quickly, as if he needed to calm himself down.

He paused for a moment before saying, "Mr. Liu, this isn't about money; SM simply won't sell it."

Liu Zimu looked at him calmly, her eyes firm.

Park Hyun-woo sighed and said, "F() debuted in 2009, so it's been almost ten years now. Although they haven't had a formal comeback since 2016 and the members have been pursuing individual careers, SM has never announced their disbandment. Even so, SM would never sell a brand that still has influence to a third party."

Liu Zimu raised his hand somewhat irritably, signaling him to continue.

SM Entertainment has always been known for its tight grip on frozen assets. Take The Grace, for example; they haven't made a comeback since 2006, yet their trademarks are still registered with SM. And what about Shinhwa? How long did their lawsuit last when all members terminated their contracts? SM is known in the industry for its strong control over the brands of its groups.

Park Hyun-woo sighed: "Even if SM agrees to sell, they'll set the price sky-high. The F() brand trademark alone is registered in more than a dozen countries on the Korean Peninsula and overseas. If you want to buy it, you'll have to include the overseas trademark rights all at once. SM paid for these overseas registrations in the first place, so if they want to sell it, they'll definitely include all the maintenance costs from the past ten years, and then ask for several times the price."

"There's also the copyright of the songs. (This includes officially released songs, singles, albums, OSTs, GG songs, etc. Each song has copyrights for lyrics and music, recording rights, and performance rights. The recording rights are held by SM Entertainment, so this part is relatively easy to negotiate. But the copyrights for lyrics and music involve third parties, and it's not something that can be resolved just by SM agreeing. It's negotiated on a song-by-song basis. There may be two or three copyright holders behind each song, some of whom may have already dissolved, and some of whom cannot even be contacted. If the purchase isn't done properly, there will be endless lawsuits later."

"Master tapes and video footage are physical assets. The master tapes are in SM's warehouse, and their management of master tapes is definitely very strict. Video footage is more complicated, including music videos, music show performances, variety show clips, and behind-the-scenes footage, with copyrights scattered among different production companies. If you want to buy them, you have to negotiate with each production company individually. Some companies may no longer exist, and you have to check where the copyrights have been transferred."

Liu Zimu picked up his coffee, took a sip, and said nothing.

Park Hyun-woo turned to a new page and drew five circles on the paper: "The hardest thing is people, the contracts of the five members."

Vicoria has shifted her focus back to China, and her contract situation is complicated. Amber, Luna, and Krystal are still with SM Entertainment, but their contracts expire at different times. Krystal is primarily focused on acting, and her contract terms lean towards film and television. If you want to sign them all, you'd have to offer each of them individual terms. And frankly, Mr. Liu, even if you offer an exorbitant price, they might not be willing to come back. Vicoria is doing well in China, Amber is releasing her own songs overseas, and Luna has established herself in the musical theater field. Everyone has their own path; do you think they'll just come back if you ask them to? That's a very real problem.

He connected the five circles together, drawing a large circle to enclose the whole thing.

"The Korean Peninsula's copyright law stipulates that the group's brand belongs to the company, while the members' individual contracts belong to the company. These two things are legally separate, but in actual operation, they are integrated. If SM doesn't agree to sell the brand, even if you sign members, it's useless; they still can't operate under the name F(). Conversely, if you buy the brand but can't sign all the members, then the brand is just an empty shell, which isn't what you want, right?"

Liu Zimu spoke up: "Let's put aside the people for now and clarify the earlier points. Just tell me, is there any room for maneuver in this from a business perspective?"

Park Hyun-woo thought for a moment, then tapped his fingers twice on the table: "Of course there's room for maneuver, since you have the money, but it could take a long time. The first step is to find a third-party professional agency to value the entire asset package, not the price SM itself sets, but the fair market price. Only when this bottom price is determined will we have leverage in negotiations."

"The second step is to find a law firm experienced in the field of intellectual property rights to clarify the ownership of all copyrights involved in F(). Which ones are in the hands of SM, which ones are in the hands of third parties, and which ones are overseas. If the ownership of the copyrights is unclear, it will be a hot potato once it is bought."

"The third step is overseas interests. We need to thoroughly investigate the interests in each country."

He closed his notebook.

"It will take at least five to six months to complete these three steps. After six months, when we go to SM with the valuation report and copyright list, they may not even be willing to come to the negotiating table."

Liu Zimu leaned back in his chair and stared at the ceiling for two seconds.

This is quite a challenge!

Park Hyun-woo thought he would say "never mind then," after all, he knew that the boss did all this for Choi Sulli.

"I insist! Find law firms, find appraisal agencies, find every possible solution." Liu Zimu sat up straight and looked at Park Hyun-woo. "Before the end of this year, I want to see a complete asset list and valuation report, as well as, most importantly, a feasible solution."

Park Hyun-woo opened his mouth as if to say something, but then swallowed it back.

The two remained silent for a while.

"Mr. Liu," Park Hyun-woo looked up, his eyes gleaming behind his gold-rimmed glasses, "Are you really going to buy F ( )?"

Liu Zimu leaned back in his chair, tapped his fingers twice on the table, and sighed: "It's not necessarily about buying them, it's just about letting them out and having the freedom they want."

Park Hyun-woo pushed up his glasses: "You did all this because of Choi Sulli, didn't you?"

Liu Zimu nodded.

"In that case, things become much more flexible. We can choose not to buy it and try a different approach. We could focus on just working on Choi Sulli's contract, which would be much simpler."

"No! We want all five of them!" Liu Zimu interrupted him!

Park Hyun-woo nodded, pulled an A4 sheet of paper from his briefcase, placed it on the table, and wrote: [LabelF, Independent Label.]

Liu Zimu stared at those words for two seconds: "What?"

"This is the label name. Referring to LabelSJ, it's an independently operated label that SM Entertainment established for Super Junior in 2015. The label handles all album production and management, but the parent company is SM, and profits go through SM's account." Park Hyun-woo tapped his finger on the paper. "SM has had this kind of collaboration before, and they're not opposed to it. The difference is that LabelSJ is a direct offspring of SM, born from their own womb. Our proposal can be more aggressive: have the five members of F() establish a new corporation, funded and controlled by you, and then have SM license the F() brand to them, sharing profits with them."

Liu Zimu opened his mouth: "What do you mean?"

He genuinely didn't understand; he had never looked into it.

Park Hyun-woo explained, "It means that F (F) is still F (F), but the person in charge of them has changed from SM to F (F)'s own company. SM gets a share of the profits, and they also get the title that they care about most."

"Why should SM agree?"

"Because you're a major shareholder of Kakao, and because you have endless money to throw around." Park Hyun-woo paused, "What's the current state of F()? Song Qian is in China, Amber is traveling between the US and Seoul, Luna is in the musical rehearsal room, Krystal is on set, and Choi Sulli is in your bed."

Liu Zimu picked up his coffee cup to cover his slightly flushed face.

Park Hyun-woo pretended not to see: "SM's attitude towards F() right now can be summed up in four words—let it gather dust. Since it's just sitting there anyway, and they can't do anything about it, they might as well push it out to earn a good reputation and make money. As long as SM's share of the money arrives every month and the financial statements look good, their board of directors won't turn down money."

Liu Zimu put down his coffee cup: "Continue."

"The plan consists of three steps." Park Hyun-woo took a pen out of his pocket and drew three horizontal lines on the paper.

"The first step is to set up a company. After that, you will sign individual management contracts with each of the five members as a third-party investor. Note that you are signing with them, not with SM Entertainment."

"The second step was for the company to sign a label collaboration agreement with SM. During the agreement period, F() will use Label, a label under SM."

They will operate under the name "F," with completely independent record releases, promotional channels, and business dealings. Profit sharing will follow industry practice: SM Entertainment 30%, the label 70%, and further distribution within the label based on individual member contracts.

Liu Zimu frowned: "Would 30% SM be enough?"

"Why are we not satisfied? The current F() has been abandoned, let alone 30%, and has made no contribution whatsoever."

"Besides, their members' contracts are all expiring, who else will sign with them?" Park Hyun-woo's speech quickened, and he tapped his finger heavily on the table at the end. "So, 30% is free for them. If SM insists on more, then we'll add clauses. We're here to solve these problems for you. If all else fails, your company can just buy out everything at F(). You have money, don't you? Someone on their board will be tempted."

Liu Zimu leaned back in his chair and stared at the ceiling light for a few seconds.

"And the third step?"

"The third step is that if the cooperation between the two parties goes smoothly after three years of operation of the label, then we will continue to cooperate," Park Hyun-woo capped his pen and pushed the paper over. "It's not impossible that we might even buy out the entire F() at that time."

Liu Zimu picked up the paper and looked it over twice: "If it's just the label, will it affect other artists? For example, our..."

"If Xiao Qiu joins my company, will she be unaffected by these issues?"

Park Hyun-woo laughed: "The label is only part of the company, and the company is independent. You're the one who calls the shots."

"The biggest challenge now is, besides Sulli, will anyone else sign?"

Liu Zimu smiled, a very faint smile, and then sighed.

Yes.

We can find solutions to these problems, but whether the five people would still be willing to form F again is something no one can say for sure.

"Manager Park, it's you who's remarkable that you researched this information so early on. Should I thank you properly?"

"I'm your asset manager, not your agent. I'm just telling you the feasibility, not making decisions for you," Park Hyun-woo said with a smile. "Besides, ever since you told me about Choi Sulli, I've been fully prepared. This is a required course for an excellent asset manager."

Liu Zimu did not respond.

He stood up, walked to the window, and knocked on the floor-to-ceiling glass.

"What is the approximate probability of feasibility?"

"I've conducted an assessment. Forty percent of the members are willing, but there's sixty percent internal resistance within SM, and negotiations will take months." Park Hyun-woo paused. "But if we get Sulli involved in persuading the members, the resistance will decrease. It's even possible to have her organize the other four members to negotiate with SM..."

Liu Zimu turned around, looked at him, then covered her face and squeezed out a sentence through her fingers: "You want her to talk to members? Fine, but to negotiate with SM? Are you trying to destroy SM, or am I?"

"Haha, Mr. Liu, having Choi Sulli communicate with the members is of course serious. But having her negotiate with SM was just a joke. We'll handle these things ourselves." Park Hyun-woo stood up, picked up his briefcase, and said, "I'll send you the detailed plan for the label within three days."

"Go ahead, I'll treat you to Korean beef after I send out the documents, and I'll give you two extra plates."

Park Hyun-woo took two steps and then turned back: "Mr. Liu, then I'll thank you for the Korean beef in advance."

Liu Zimu suddenly said, "Wait! Do two more things for me. First, help me set up an entertainment company, either a new one or an acquisition, but don't use my name. Second, quickly prepare a plan for Choi Sulli to terminate her contract with SM Entertainment. I don't ask for anything else, just get it done as soon as possible."

Park Hyun-woo sat down again: "Both of these matters are simple, Mr. Liu, you have money anyway. But aren't you afraid of causing misunderstandings with SM Entertainment?"

Liu Zimu was speechless: "What misunderstanding?"

"You let Choi Sulli terminate her contract, and then you said you wanted to start your own label. SM Entertainment won't have any other thoughts about that?"

Park Hyun-woo smiled.

"Then what should I do? After I set up my own label, should I buy all their contracts?"

Park Hyun-woo nodded: "That's right! If the negotiations go smoothly, we'll be partners. Then negotiating those negligible contracts with them will be much simpler, won't it?"

Liu Zimu nodded: "Okay, then get on with it. If you can get it all done within a month, I'll triple your reward. If you can get it done within three months, I'll double your reward."

"Mr. Liu, you've finally said something I like to hear. Well then, I'll take my leave!" Park Hyun-woo smiled as he stood up, truly about to depart. "There's a saying in China: money makes the world go round. Wait for my good news."

Liu Zimu waved his hand.

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