Volume 2 2010 Chapter 320: Family Advice
Although he gave the suggestion, Yi Haoyan himself was not quite sure.
This matter involves a lot of content, and maybe he is just imagining things, so the boy suggested that his cousin should consult his uncle Son Hyukjae's opinion.
After all, as the second generation of a chaebol family, he has worked in high-level positions for a long time and must know more.
On December 23, another piece of news that shocked the music world came out.
After the contract termination cases with TVXQ and Han Geng, SM's various unequal contracts such as "no leave, no illness, no disobedience" were exposed one after another.
Under the supervision of the Korea Fair Trade Commission, SM Entertainment finally modified the agency agreements with its artists and signed new contracts with all its artists using the new agreements.
The changes to the contract mainly include the effective date of the contract, liquidated damages, and the company's unilateral arrangement of the artist's schedule. The effective date of the contract was changed from 13 years from the original signing date or 10 years from the debut date to 7 years from the debut date.
In terms of liquidated damages, the original three times the total investment amount and twice the expected income for the remaining period of the agreement was changed to the average monthly income of the two years before the breach multiplied by the number of months remaining in the agreement. In addition, the original agreement that artists must unconditionally perform in entertainment activities arranged by SM has been changed to allow artists to refuse improper requests made by SM according to their own wishes.
Relevant staff of SM Company stated that the company has re-signed all its artists with a new agreement, and will continue to cooperate with the Korea Fair Trade Commission and the cultural industry in the future to better guarantee the development of Korean popular culture from an institutional perspective.
In addition to SM, the Fair Trade Commission has asked a total of 19 entertainment companies to modify the unfair contracts of 230 of their artists.
The brother and sister were taken home together to discuss the matter, under the pretext of a family dinner.
Finally, he could taste his aunt's long-lost cooking again. Yi Haoyan ate with relish, but Sun Enxi had no appetite.
"What Haoyan said was right! TVXQ and Han Geng's subsequent events had such an impact in the end."
Wang Ruhui sighed deeply.
"This is just a change that is bound to occur when the industry develops to a certain extent. I just guessed it right."
Yi Haoyan shook his head. "As long as the government wants the Korean Wave to continue to grow, this kind of improvement in idol treatment will definitely happen."
"Idol contracts will improve significantly in the future, which is not a good thing for the agencies."
Sun Enxi looked at the problem from a different angle.
"It has little impact on the big companies that have already developed, after all, they have already completed their primitive accumulation. But it will be more difficult for the small companies that have grown later to stand out and become big."
Son Hyuk Jae nodded, “The barriers to entry have increased, and it’s harder to exploit artists.
However, this is currently only useful for large companies and has no effect on small companies. To fundamentally solve the problems in this industry, contracts alone are useless.
The status gap between the company and the artist is too big, and the market is too small. Only by expanding the coverage of the Korean Wave, increasing overall revenue, and making the pie bigger can the needs of the agency be met. Otherwise, it will only cause more serious internal competition. "
“So the future development direction of CJ E&M is to radiate outward?”
Yi Haoyan seemed to sense something.
"Yes, this reorganization is to concentrate our efforts on outward expansion."
Son Hyuk Jae spoke eloquently, "The main purpose is to develop the Asian market, mainly China and Japan, especially China, which is a huge market with great potential. Korean movies, TV series, variety shows, idol stars, and games are very popular in China, and there is still a lot of room for development."
"That's true, but we also have to consider the political impact. After all, cultural products are different from other products. Every country will protect its own cultural market, especially a cultural power like China with a long history and strong organizational capabilities."
Wang Ruhui rolled her eyes at her husband and said, "It's OK for Korean pop culture to make money in China, but it's better to focus on the local market. Otherwise, if there's any disturbance, you'll be in big trouble."
"Hey! This is not something I can decide."
Sun Hezai laughed it off and avoided talking about his wife's reminder.
"Dad, after the group is integrated, which part will you manage?"
Sun Eun-hee suddenly asked this.
"Me? Probably the vice president. I'll see what your cousin will do. I'll probably be in charge of the business related to the Celestial Empire."
While speaking, Sun Hezai glanced at Wang Ruhui with a happy look on his face.
"Ah! Why is it so? Dad, you can participate in overseas industries because of my mom's relationship, why can't I?"
Miss Sun's mentality is unbalanced.
The couple was puzzled by the sour words, so Sun Enxi repeated Yi Haoyan's analysis.
"Haha! So that's the reason~"
Son Hyuk Jae smiled happily, with the kind of joy that an old father would feel when seeing his daughter acting coquettishly.
“Are you eager to get involved in the film and television business?”
"I didn't really want to participate, I just felt like I was being targeted because of my mom."
It's rare for Miss Sun to show some childish behavior.
"Haoyan is right. You are not suitable to participate in an industry that is too involved in politics."
Wang Ruhui spoke up, "Actually, we don't recommend you go either. Your grandfather and cousin also think so."
"Why? Is it because I am not capable enough?"
"No, my daughter is the best. How can she be incompetent? On the contrary, it is because you are too outstanding that we don't let you get involved in those matters now."
It was rare for Son Hyuk Jae to speak in a serious tone.
"Haoyan is right. We, including your grandfather and cousin, mean the same thing. This is not to restrict you, but to protect you.
As a small country sandwiched between the Celestial Empire and the Lighthouse, South Korea has many things to balance, and this balance is constantly changing with the relationship between the two major powers.
In the past, the lighthouse was in an absolutely dominant position, and we had corresponding ways to deal with it.
Now that China is rising, the relationship between the two great powers is undergoing subtle changes. This change is happening much faster than most people expect, and we need to prepare early.
But the chaebols are not completely independent and are also subject to many constraints from the lighthouse and Japanese capital. There are some things that our generation cannot do now, so we can only wait.
In short, you should study and accumulate experience with peace of mind now, don't be anxious, there is still a lot of time."
These words left Sun Eun-hee silent. There was something heavy in the words; not all children from chaebol families could live an easy life.
"Don't bully your brother anymore! It's rare for Haoyan to think of this. It's a blessing for you as his sister! "
Wang Ruhui was very calm and was very polite when she taught her daughter a lesson.
"Also, what did you mean when you said that I was targeted? Ah! Sun Eun-hee! Are you disliking me?"
"Aniye! Mom! I'm your biological daughter, can't you be a little gentler to me? You like Haoyan so much! Did you want a boy in the first place?"
Miss Sun is no pushover either.
"Yes! Now Haoyan is my biological son. Your status has been lowered. Do you know that?"
"Mom!"
"Don't think about your career all the time. Finding a man is the important thing!"
As they talked, the topic inevitably returned to the old topic of urging marriage. After all, 2010 is coming to an end, and Sun Eun-hee will be 25 next year.
It’s still young to start a career at this age, but it’s a bit late to fall in love.
In particular, the fact that this outstanding young lady from a chaebol family has never had a boyfriend has become a hot topic in the circle.
Although I helped my daughter reject many so-called family marriages, hoping that she could find her own happiness, as a mother I still couldn't help but worry.
Yi Haoyan has long known that his aunt is not a "good mother" in the traditional sense.
So he said nothing and cleared himself of all responsibility.
This long-awaited family dinner eventually became a platform for the mother and daughter to compete with each other. This is also a feature of the Sun family...
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