Tuesday, April 21, 2009

Clearer Photos from Cosmopolitan

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There was an article that came out yesterday that came from Korean Times with the title "How Koreans Can Learn from Japanese Production". The article is pointing out again excessive pay of Korean actors that lead to over-sized production costs that lead to poor profits. Of course the names such as Bae Yong-joon are known to receive approximately 250 million won ($ 185,800) and Song Seung-heon 70 million won ($ 52,025) per episode according to the article came out.

I was about to comment on the topic earlier in BYJ thread @ soompi. Good thing that Mariko posted earlier than me and she already said all what I wanted to say.

To save me from thinking of what to post about this topic, let me just quote what Mariko has written.

About the comparison between the pay of the actors in Korea and Japan, if you are with us a little bit longer, we discussed this before here when Fumi san talked about this on JOB. I just couldn't remember when it was. The Japanese actors are paid on a monthly basis, meaning they are on salary basis. When their popularity waned, they will still receive some kind of a royalty from their agency, meaning, their system is different from that of the Korean system.
The Japanese actors pay their social security, health insurance, etc. just like a regular employee.


About YJ getting paid more than the others, i think it is obvious that he can return the investments. However, again, he invested his payment in TWSSG which of course was discussed here several times already. He and BOF/KE are just beginning to harvest what
they had planted

About BYJ's stocks [since the topic is already income]

Feb 20, 2006.
BYJ will invest 9 billion won

The SoftBank, Korea (CEO-Moon Kyuhak) announced on 20 that it will invest to Key East(presntly Autowin Tech) which will push forward cultural content business jointly with film actor BYJ and his management company IMX(Interaactive Media Mix, CEO-Sohn Ilhyeong).

The investment in this time is the size of 13 billion won in total, BYJ will invest 9 billion, the SoftBank Ventures, a subsidiary of the SoftBank, Korea 1 billion won, SoftBank Union, 2 billion won, and IMX will invest 1 billion won. BYJ will hold 37.5 % share, becoming the biggest share holder.

This is the news came out on July 12, 2006 when KE acquired BOF under it's umbrella.

As the (Inc.) Key East, media content KOSDAQ company, decided to purchase (Inc.)BOF, management company, at 35 billion won and incorporate it as its affiliate company on 12, BYJ could get well over 20 billion won on book as a difference in evaluated value. According the the public notice material from the Key East, BYJ holds 82.44% of the (Inc.) BOF's stocks, it was revealed that he recorded difference in evaluated value at 28,855 million in number among 35 billion of receipt from taking-over.

That’s 20 billion won plus 9 billion won equals 29 billion won (29,000,000,000). Currently, BYJ’s stocks valued at 13.5 billion or 13,500,000,000 won. You do the rest of the calculation. He isn’t making much. In fact, he lost half of the original value. However, he isnt losing anything cos he is still holding on to his stocks. Btw, when he established BOF in 2004, he invested 100,000,000 Won (he earned 19,900,000,000 for selling his BOF stocks to KE). Again, that's just in papers since he invested all 20 billion to KE.

Then, how much he actually invested in cash? 100,000,000 won he invested for establishing BOF plus 9,000,000,000 won for KE for a total of 9,100,000,000 won...

Btw, he has other investments like BOFi and his restaurants. Who knows, there must be other investments as well that aren't being published.

remember he is earning billions of won in a year as an actor and endorser. plus, all those royalties from copyright business.

And I like what Tamar also posted in the thread which I agree... it's apples and oranges to compare the two.

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