Chapter 243: with translation of chapter title

Jiang Heng has no subsidiary in South Korea; after all, this place is the chaebols' domain.

As for the release of a series of films, they are all done in cooperation with CJ (Hejie) Entertainment Company.

Speaking of this company, its background is not small either; its founder is the granddaughter of Li Bingzhe, founder of the Samsung Group, Li Meijing.

This woman is not simple either; the company, upon its establishment in 1995, under her leadership poured huge sums into DreamWorks, and became the agent for DreamWorks films' distribution in South Korea.

The CGV cinemas commonly seen in the mainland are subsidiaries of the CJ Group.

This cinema chain was established in South Korea in 1996, entered the Chinese market in 2006, and opened its first CGV cinema in Shanghai.

However, this time the CJ Group chose to go north, intending to open its first cinema in Jingcheng.

The reason, after all, is still due to Jiang Heng's influence; over these years, because of film distribution, they have cooperated quite a bit with China Film and the Outstanding Rising Film Company.

Moreover, because of a single remark by Jiang Heng, China Film Group introduced CJ Entertainment's film "Memories of Murder," unexpectedly earning them a tidy sum, and their goodwill toward Jiang Heng greatly increased.

CJ (Xijie) Entertainment Company

Love Outstanding Rising Film Company

Jiang Heng and Li Meijing sat opposite each other, eating while chatting.

"Congratulations, Director Jiang! Pacific Rim 2's global box office exceeded one billion US dollars; in our Republic of Korea, it also broke the highest box office record—congratulations!" Li Meijing said, then lifted her red wine glass.

Jiang Heng also lifted his cup, smiling and saying thank you.

Longyuan Chinese Restaurant

Li Meijing put down her chopsticks, saying, "Of course, I came to China this time because I am optimistic about the development of the film industry here and want to invest in building high-end cinemas; I don't know if Director Jiang has any opinions to share with me!"

Jiang Heng was taken aback upon hearing that, then immediately laughed; this is truly a case of a pillow arriving just when one is sleepy!

He is currently preparing to film a 3D version of "The Monkey King's Havoc in Heaven," and the main problem he faces is the lack of high-end cinemas with 3D screening halls.

If there are not enough 3D theaters, the audience for 3D films will be very small, making it difficult to establish a positive word-of-mouth effect.

Keio University (Japan)

Therefore, renovating and upgrading cinemas is equally crucial.

The cinema chains he can currently influence are "China Film Red" and "Shanghai Film Red," but because successful 3D films have not yet appeared, the renovation projects are progressing very slowly.

In anger, Jiang Heng directly invested a huge sum to acquire a small cinema chain, and has already sent people to push forward the theater renovation.

However, overall, high-end 3D theaters are still too scarce; if CGV could participate, it would be perfect.

Moreover, in his previous life, the CJ Group developed very successfully, being the world's fifth-largest film investment enterprise, with a market share in South Korea exceeding 50%.

Strengthening cooperation between the two parties is also beneficial to Jiang Heng.

"I don't know, Chairman Li, have you looked into this 3D technology?"

Li Meijing was taken aback, then replied, "I've heard that director James Cameron is apparently filming a 3D movie, but currently there aren't any very successful 3D films internationally; does Jiang Heng think highly of this?"

Jiang Heng laughed, "Indeed, I am very optimistic about it, and I also plan to invest in filming a 3D movie."

Jiang Heng is not afraid that Li Meijing will leak the news, after all, whether it's filming or post-production, both take time; the release window for Avatar is basically fixed, making it hard to move up.

Upon hearing that, Li Meijing's eyes lit up, as if she had just heard a very important business secret, and her voice even trembled slightly.

"You said you also plan to invest in filming a 3D movie?"

This reaction left Jiang Heng bewildered, but he quickly realized, "Holy shit, at this point CGV is not yet the later number-one cinema chain in South Korea; she must have discovered a track to surpass competitors."

Li Meijing indeed, as Jiang Heng thought, generated the idea of "differentiated" competition and found a way to surpass other cinema chains.

If it were only James Cameron filming a 3D movie, then perhaps the matter of renovating cinema theaters would still need some discussion.

But since Jiang Heng is also involved and plans to film a 3D movie, in Li Meijing's view, this is something worth betting on.

The question is whether she dares to gamble?

She's too daring!

Li Meijing is short and slightly plump, looks unimpressive, yet she is the behind-the-scenes bigwig of the Oscar-winning Korean film Parasite, and also a super academic achiever.

After graduating from Seoul National University in the 1980s, she first pursued a master's in East Asian Studies at Harvard University, then earned a doctorate in Chinese history at Fudan University. During that period she also studied at Taiwan University and Japan's Keio University, becoming fluent in Chinese, Japanese, and English.

Later she worked in the United States, often bringing Korean film DVDs to visit major Hollywood film companies: Warner Bros., Universal, Fox, etc. This enthusiasm was later described by Haolaiwu media as 'almost like a follower of Korean cinema'.

However, at that time Korea had no internationally renowned directors nor overseas-recognized classic works, so her efforts were basically futile, and she then decided to use money to open the way.

First she brokered a connection between Spielberg and Li Jianxi, the then Samsung leader, attempting to achieve a $900 million collaboration to establish 'DreamWorks'.

After the collaboration failed, the following year she again represented the Korean CJ Group and signed a contract with Spielberg, exchanging $300 million for 10.8% equity in DreamWorks and the exclusive Asian distribution rights (excluding Japan) for its films—what a formidable figure!

After reaching cooperation with Spielberg, Li Meijing's other work focus became building a chain of high-end cinemas with her brother Li Zaixian.

At this point it is also steadily progressing, but hearing from Jiang Heng's words a new opportunity, she would not miss it.

First she asked Jiang Heng about the audiovisual difference between 3D and 2D films; of course, it was the audiovisual effect of the new 3D film, because the audiovisual effect of the 3D films at this meeting was actually quite mediocre.

After hearing Jiang Heng's description, Li Meijing's heart fluttered.

But as a business tycoon, she naturally would not make a decision immediately, only saying: 'Director Jiang, rest assured, I will have the team study this project thoroughly; if feasible, all CGV cinemas in the Republic of Korea will be refitted with 3D auditoriums!'

Jiang Heng laughed and said: 'I'm just making a suggestion; whether to remodel or not is your own business!'

Li Meijing said: 'Understood, but I believe that in the coming ten or so years, 3D film will be an important cause of explosive growth in the global film market scale.'

Jiang Heng said: 'Probably, after all, to see the essence of a 3D film you have to go to the theater; this is something DVD cannot replace!'

'Yes, so, thank you very much for Director Jiang's suggestion; coming to China this time to visit you first is truly the right decision!'

Jiang Heng laughed: 'No need to be polite!'

Li Meijing said: 'Director Jiang, is there anything you need help with? Let me express it.'

Jiang Heng laughed and shook his head, because the essence of this matter is mutual benefit, everyone gains.

But Li Meijing remained polite, Jiang Heng thought for a moment and said, 'Then help me find someone!'

(End of chapter)