Chapter Sixty-Two Signing with LOEN

At 2:00 in the afternoon, Chen Zhe and his two companions arrived punctually at LOEN Company. As soon as they entered through the main doors, Chen Zhe immediately spotted a refined-looking middle-aged man standing beside the receptionist. It was none other than Kim Jung Min, the LOEN president who had arranged to meet with them that afternoon.

“Annyeonghaseyo, President Kim, sorry to have kept you waiting!” Noticing that Kim Jung Min was waiting in the lobby rather than his office, Chen Yuqi hurried forward a few steps and greeted him politely. Following her lead, Choi Sooyoung also brought Chen Zhe up to greet him.

“Annyeonghaseyo, it’s no problem at all. I’ve only just arrived myself. Let’s head up to my office and talk there—this way, please!” Seeing the three arrive, Kim Jung Min took a moment to compose his excitement, greeted them in return, and then led the way toward his office.

Their pace was brisk; within a few minutes, they reached Kim Jung Min’s office. Once everyone was seated according to custom and the assistant had served tea, the discussion about the terms of Chen Zhe joining LOEN began.

“As for Chen Zhe’s terms, I have a contract here. Please take a look at it first, and if you have any comments, we can discuss them after you’ve read it.” Just as Chen Yuqi and her companions were about to speak, Kim Jung Min signaled his assistant to produce a contract, handing it to Chen Yuqi and inviting her to examine it.

Hearing that it was the contract, Chen Yuqi accepted it while Choi Sooyoung and Chen Zhe leaned in, eager to see what terms Kim Jung Min was offering and to gauge his sincerity.

1. A five-year contract will be signed with the signee.
2. Profits from songs will be split 60-40 between LOEN and the signee, with the signee retaining copyright ownership of songs they compose; LOEN will only hold usage rights and must pay the signee an annual copyright fee.
3. The signee will officially debut in August 2012.
4. No romantic relationships are allowed during the trainee period; after debut, any relationship must be reported to the company in advance.

5. ………

What caught Chen Zhe’s eye was not the copyright clause, but the explicit mention of the debut date. If he signed this contract, he would have to debut in just over a month, which implied an intense and grueling training schedule. Yet rather than being daunted, this high level of challenge piqued Chen Zhe’s interest.

Chen Yuqi and Choi Sooyoung, however, focused first on the copyright and profit-sharing terms. They had come well-prepared, determined to secure the best possible deal for their younger brother and to keep the copyrights in his hands. To their surprise, before they even had a chance to negotiate, the other party had already offered the most favorable terms, leaving them with nothing to contest. All their careful preparation was now unnecessary, their efforts rendered moot.

“President Kim, there’s no problem with this contract—the terms are very generous. But I’d like to know: was this contract discussed with your board of directors, or is it your own decision?” After thoroughly reading the contract several times and confirming its advantages for her brother, Chen Yuqi placed it on the table. Tapping her fingers lightly on the surface, she raised what she considered a critical question.

After all, everyone knows that capitalists are driven by profit. With a suitable profit, capital becomes bold; at 10%, it is widely used; at 20%, it becomes lively; at 50%, it spurs active risk-taking; at 100%, it disregards all laws; and at 300%, it ignores even the risk of the gallows. For such a favorable contract, especially one that yields the major copyrights without a fight, Chen Yuqi couldn’t help but suspect that this was Kim Jung Min’s personal decision, not one sanctioned by the board. Otherwise, how could a board—so focused on capital—so readily give up the copyrights?

In fact, Chen Yuqi’s suspicion was not unfounded, but LOEN’s situation was unique. The company lacked artists who could carry the brand; the entire company depended on IU alone. The original plan, as discussed between the board and Kim Jung Min, was to gradually develop their trainee system and have established artists mentor newcomers, with IU leading new groups set to debut.

However, IU’s sudden meteoric rise transformed her into a top-tier artist, and this ignited new ambitions among LOEN’s executives: to launch a male solo artist as successful as IU, forming a dual powerhouse to dominate the Asian solo music scene.

Initially, this was a long-term plan, to be implemented once LOEN’s trainee system matured. But Chen Zhe’s sudden appearance gave the executives hope that the plan could be realized ahead of schedule.

Faced with a choice between the long-term benefits of LOEN’s overall rise and the immediate gains from Chen Zhe’s copyrights—and knowing that if they insisted on taking his copyrights, Chen Zhe probably wouldn’t sign—the executives, not being fools, made the obvious choice. Thus, after deliberation between Kim Jung Min and the board, the contract offered the greatest possible concessions.

“Please rest assured, Chen Yuqi. This contract was discussed among the LOEN executives,” Kim Jung Min said, patting his chest and assuring her with a formal and serious tone, noting her lingering doubts.

“I see. But isn’t the debut date a bit rushed? Chen Zhe, what do you think?” Having confirmed that the contract was favorable for her brother, Chen Yuqi turned to Chen Zhe, who seemed lost in thought. She furrowed her brow slightly, then relaxed, handing the decision back to him.

“I think it’s fine. A shorter training period doesn’t bother me—I believe I can handle it. But what about my studies?” The challenge of debuting after such intense training had sparked Chen Zhe’s competitive spirit, and a subtle smile tugged at his lips as excitement crept into his voice. Yet when he considered his studies, he hesitated. Having grown up under his mother’s influence, Chen Zhe placed great value on his education; he couldn’t easily set it aside.

“We chose this debut date to ride the wave of enthusiasm from your song ‘Melody’ and convert it into enduring popularity. Given your vocal skills…”

“If they’ll help arrange your studies, then I have no objections. The decision is yours—you need to start handling things yourself,” Chen Zhe’s father stated first.

However, Chen Zhe’s mother was completely opposed to him staying in Korea and entering the entertainment industry, making her disapproval clear. Only after Chen Zhe spent considerable effort persuading her and agreeing to various conditions did she reluctantly give her consent.