Chapter 393

Even before the Olympic Games' opening ceremony, Charles took Gao Yuanyuan to South Korea.

They stayed at the Walkerhill Resort Hotel, located on Mount Achasan by the Han River in the northeast of Seoul.

"I came to Korea for some business," said Gao Yuanyuan, tapping Charles who was lying on her.

"What business?" Charles lifted his head. "Has Red Fruit Entertainment started operations in Korea?"

"A romance movie is being directed by a Korean director, and the lead actor is also Korean. I'm here to discuss this project," Gao Yuanyuan explained. 

"I see. Don't get your hopes up too high, though," Charles shook his head and rolled over.

"What do you mean? Is a co-production not feasible?" Gao Yuanyuan propped her head up and asked.

"Co-productions between Japan and Korea have not been very successful. That Korean director's movie Cyborg She made just over 600 million yen at the Japanese box office last year, even though it got decent reviews," Charles explained. Romance films don't have a huge market.

"What about Departures? Its box office earnings were in the sixty-something billion yen range!"

"But Departures was filmed in Japan using Japanese actors. It did decently at the box office, but it was still an average performance considering the low production cost," Charles said. The budget for Cyborg She was around 300 million yen, and good reviews might boost DVD sales.

Gao Yuanyuan thought for a moment, then rested her head on Charles's chest, her fingers idly running over him. "I'll go check things out first; I'm not short on acting opportunities anyway.

Whether or not I take this romance film won't make much difference to me. Our company has signed on new talent, and I can always recommend someone else."

Korea's market had been sluggish for the past couple of years. Despite a boom in films after the turn of the millennium, supply still exceeded demand.

...

Capet Pictures' Mamma Mia! began its Asian release in August. By now, Mamma Mia! had grossed $90 million in North America, with overseas earnings reached $300 million!

Xu Xiaoling had just returned to Korea from Japan, where she attended the Korean premiere of a film, before receiving news of Charles' arrival in Korea.

"Mamma Mia! is such a force. Its overseas box office is practically on par with Indiana Jones 4," Xu Xiaoling exclaimed upon seeing Charles.

"In Europe, Mamma Mia! is indeed stronger than Indiana Jones 4, but it's lagging behind in North America and Asia," Charles replied. Mamma Mia! had just premiered in Korea, and its weekend box office results weren't significant yet.

Xu Xiaoling nodded. That's why the production team stayed in Japan for just a day before heading off to Australia.

"Have you met with the folks from CJ Entertainment?" Charles asked.

Xu Xiaoling nodded. "Lee Mi-Kyung was very sincere. With CJ Entertainment helping distribute Capet's movies in Korea, it makes our job much easier.

Besides CJ Entertainment, there are SHOX and Lotte as competitors. Hollywood films have always been a major part of the Korean market. Partnering with us helps them maintain their market position better."

Charles took a sip of coffee. "Korean films have started using big-budget special effects. The Host from '06 had an investment of 12 billion won and grossed nearly 90 billion won at the box office.

Last year's D-War had a 30 billion won budget and earned over 70 billion won. And there's another big movie this year, right?"

Xu Xiaoling nodded. "The first Korean disaster film Haeundae, by CJ Entertainment, with an investment of 16 billion won."

Korean stars were inexpensive, and a hundred billion won film was considered a top-tier production.

"Did you invest?" Charles smiled.

Xu Xiaoling shook her head. "With a budget of just under $15 million, even Korean effects companies have trouble meeting the special effects demands. It's unlikely to perform well outside Korea either."

"It might be worth participating. Korea is a unique place with a strong sense of national pride that supports local productions. It shouldn't be a loss," Charles suggested. While he didn't plan on producing Korean films himself, partial investment wasn't off the table.

"Sure, the film is still in pre-production. Hollywood capital is a promotional point for them. We could be the first Hollywood investors in a local Korean film," Xu Xiaoling agreed, seeing the benefits for Capet Pictures to establish a foothold in the Korean market.

In the evening, Charles attended a CJ Group party organized by Lee Jae-Hyun, with executives Son Kyung-Shik and Lee Mi-Kyung in attendance.

As Korea's largest food company and a global Fortune 500 company, he had to acknowledge Samsung's overall strength.

"Mr. Capet, welcome to Korea. I hope you enjoy your stay at Walkerhill," said Lee Jae-Hyun, Lee Mi-Kyung's brother.

Charles smiled. "I'm hearing great things about Korea even though it's my first visit. And Korea's cultural exports are now second only to the United States, which is impressive!"

Movies, TV shows, and music - Korea's small market couldn't sustain all these industries internally. Exports, especially in music, had K-pop sweeping across Asia.

Charles, being a significant shareholder in NHN, Korea's largest portal and gaming company, knew these facts well.

"Music and automobiles have been Korea's top exports, but the global economic downturn has hurt export businesses," Lee Jae-Hyun laughed. "CJ Entertainment is a significant part of our group. We're excited to collaborate with Capet Entertainment!"

Charles nodded with a smile. "We're happy to help promote Korean films internationally. Capet International Pictures' Asia division has decided to invest in Haeundae. This will mark the beginning of our partnership. Besides film and TV, Capet Entertainment also has a record label, and there's potential for cooperation in the Korean market."

"Let's drink, there's a performance later," Lee Jae-Hyun said, clinking glasses with Charles.

"There are many Korean artists here hoping for Hollywood mentorship!"

Lee Jae-Hyun specifically pointed out several Korean actresses at the party.

Charles glanced around. Indeed, he saw quite a few currently popular actresses, though not the Girls' Generation group he always thought about.

Idol artists didn't qualify for such events.

Taking in Lee Jae-Hyun's lifestyle, Charles couldn't help thinking, "Being a Korean chaebol sure is a vibrant and colorful life."

*****

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