Chapter 302: Niga Ludayo
“How did you find out they were short on cash?”
“At the executive meeting, every department complained to the finance department about insufficient project funds and tight spending. This situation has existed since the second half of last year,” Choi Ji-yeon explained.
“Is there a possibility they were putting on a show for you?”
“It’s not impossible, but it’s unlikely,” Choi Ji-yeon shook her head. “S.M. Entertainment’s projects over the past six months have clearly shown a lack of money. Even their group comebacks and music show stages are no longer fully sponsored.”
If a project can still be faked as having no money after it’s been implemented, then how can you push the project forward? It’s possible to fake it, but that’s for a centralized company like DM Entertainment.
In a company as mixed and as eyed by various forces as S.M. Entertainment, even if Li Xiuman has already kicked out Kim Young-min and taken sole power, it’s still very difficult to do such a thing.
So…
It’s highly likely to be true.
Thinking of this, Jiang Shu waved his hand at Choi Ji-yeon.
“You may leave. I need to go to Samsung Golf Course at 3 PM. Please arrange a car.”
“Understood.” Choi Ji-yeon bowed to Jiang Shu, then left.
“Are you really going to run away?”
After Choi Ji-yeon left, Jiang Shu stared blankly ahead.
…
In the afternoon, Samsung Golf Club.
The car stopped at the entrance of the club’s first-floor reception hall. A doorman quickly stepped forward to help open the car door.
After getting out of the car, Jiang Shu casually handed a 10,000 korean won bill to the doorman as a tip.
“Thank you, Chairman Jiang!” The doorman happily accepted the tip, bowing respectfully in thanks.
Korea also has a tipping culture. Jiang Shu was in a good mood today, so he gave a tip, but even if he didn’t, nothing would happen. It wouldn’t be like in America, where they roll their eyes at you if you don’t tip.
The attendants here wouldn’t dare.
Walking inside, he quickly arrived at the golf course where he had arranged to meet Li Xiuman.
The weather in March was warm with blooming flowers. Winter had passed, and summer had not yet arrived, making this season perfect for playing golf.
When Jiang Shu appeared on the golf course in a golf cart, he saw Li Xiuman swinging his club in the distant green wilderness.
Bang!
With one swing, the golf ball flew into the distance, forming a beautiful arc.
As Li Xiuman turned around, he saw Jiang Shu approaching in the golf cart.
“Sir, would you like a ride?” Jiang Shu, sitting in the back, joked with a smile to Li Xiuman.
“Sure, then I’ll trouble you, sir.” Seeing him in such good spirits, Li Xiuman also chuckled and got into the golf cart, playing along with Jiang Shu’s teasing.
“You called me here this time, are you preparing to leave?” Jiang Shu looked ahead and said to Li Xiuman beside him.
“Yes, I have that intention,” Li Xiuman responded. “Everything has been arranged, and I’ve taken almost all the money. The rest is just to see how long I can keep it a secret.”
“You’re quite fast,” Jiang Shu praised. “How much did you take this time?”
“Over 50 billion,” Li Xiuman said, glancing at the driver.
Over 50 billion was certainly not over 50 million; that amount of money wouldn't even be considered embezzlement, at most temporary misappropriation.
Over 500 billion korean won…
It was even more than Jiang Shu had expected. After all, the reason Li Xiuman could take over 700 billion back then was based on S.M. Entertainment having dominated K-pop for many years.
However, the current S.M. Entertainment is suppressed by DM Entertainment in terms of girl groups, and its revenue is far less than in Jiang Shu’s previous life. This means that the money Li Xiuman can take will also be much less than in his previous life.
Jiang Shu originally thought it would be good if he could take half, but who would have thought he still managed to siphon off over 500 billion.
Presumably, all of S.M. Entertainment’s current project funds are IOUs, or perhaps loans?
The golf cart arrived at the spot where Li Xiuman’s last shot landed. After they both got out, the driver and caddy stayed far away.
It was clear from Jiang Shu and Li Xiuman’s demeanor that they were having a business discussion, and their presence nearby would be a hindrance.
“Where did you get this money?” Jiang Shu asked.
“Don’t worry, it’s not a loan,” Li Xiuman knew what Jiang Shu was thinking. “If it were a loan, you wouldn’t let me leave.”
Jiang Shu chuckled. That was true.
“I leveraged the company’s various…” Li Xiuman explained in detail where he got the money.
Jiang Shu felt a headache coming on.
“If you run away, and S.M. Entertainment falls into my hands, all this money will be what I have to find a way to repay.”
“That’s not something I need to worry about,” Li Xiuman said with a smile.
S.M. Entertainment wouldn’t die because of his escape, but it would definitely be severely weakened. And whoever wanted to take over S.M. Entertainment would surely have to invest a lot of money to keep S.M. Entertainment from collapsing.
Jiang Shu was the one who would take over.
“It seems there’s no other choice but to sell off the groups,” Jiang Shu said after some thought.
“You want our S.M. Entertainment not for the boy groups?” Li Xiuman was startled, looking at Jiang Shu in surprise.
“It’s for boy groups, but for future boy groups. These current old groups are irrelevant,” Jiang Shu waved his hand.
His purpose in acquiring S.M. Entertainment was twofold: first, to increase his own influence in K-pop and even the Korean Entertainment industry; second, to expand into boy groups and make money.
“You should have already released the news of your retirement, right?” Jiang Shu asked Li Xiuman.
“Yes, I have.”
“Whose desire to purchase is the strongest?”
“Kakao and Tencent,” Li Xiuman said very frankly.
“Tencent won’t do. Their investments only want authority; they don’t participate in actual operations,” Jiang Shu shook his head.
Tencent is indeed a famous angel investor. They only provide money and want recognition; the rest you handle yourself, and they don’t interfere, making them a perfect investor.
But in S.M. Entertainment’s situation, Jiang Shu absolutely cannot be the largest shareholder, nor can he be the actual controller, unless he wants to die.
Trying to control the development of an industry without a political background is seeking death.
Therefore, Jiang Shu’s goal from beginning to end was to be the second-largest shareholder of S.M. Entertainment, and there needed to be a largest shareholder above him to attract the firepower.
Tencent, who only throws money and doesn’t manage, won’t work.
“So you want Kakao to share the burden?”
“Not to share, but for them to pay,” Jiang Shu shook his head.
“When you withdraw, I will negotiate with Kakao’s people and have them bear this cost. After all, they are rich and powerful.”
That’s true.
Over 500 billion korean won sounds like a lot, but for a behemoth like Kakao, it’s as simple as Jiang Shu spending 50 million korean won.
“Alright, if there’s anything you need my help with, just say the word,” Li Xiuman said very straightforwardly.
Jiang Shu had helped him a lot in this matter, and he would also be developing in China later, so this relationship needed to be maintained.
“Understood, I won’t be polite with you.”
The two looked at each other and smiled, both having achieved the results they desired.