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IWSF – Ch 299

Who would be the person who had the biggest impact on the history of pornography?

Hugh Hefner? Larry Flynt?

As the United States was a Puritan nation, it initially had an ascetic atmosphere. However, these two men fought against the government and led the way for freedom of expression and the legalization of pornography.

Subsequently, the pornography industry grew at an incredible rate, coinciding with the American boom, and they built their own kingdoms called Playboy and Hustler.

However, in the 21st century, a pornography empire even larger than the two combined emerged. That is Faceit. And the largest shareholder of that company is OTK Company.

Neil Durden, a Playboy contributor, evaluated it like this:

“If Kang Jin-hoo hadn’t invested at the right time, Faceit would have remained just another porn site. He changed the history of pornography.”

***

Faceit rose to the top of the pornography industry within just a few years of its founding. Paid subscribers continued to increase, and profits also grew significantly.

Faceit continued to reinvest its profits in new industries: VR pornography, virtual sex, the acquisition of Dancing Rabbit, in-house content production, and so on.

Content serviced through partnerships with other production companies is also available on various platforms other than Faceit. However, content produced in-house by Faceit is serviced exclusively through Faceit.

Unlike movies or dramas, pornography only requires male and female actors and indoor space. Because of this, many pornography production companies were small-scale and focused solely on filming as many works as possible at minimal cost.

However, Faceit, which achieved economies of scale, was different. It poured in enormous production costs and created high-quality pornography that had never been seen before.

As a result, Faceit swept the AVN Awards (an American pornography awards ceremony, also known as the Oscars of porn).

As in-house content became immensely popular, Faceit’s paid subscribers continued to increase, but now, having risen to market dominance, the growth rate began to slow down slightly.

At this point, they could have been satisfied, but the founders, Toby Strong and Gerard Bacon, had no intention of doing so.

“We need to show our pornography to more people.”

“Right. Countless people are anticipating what kind of pornography we’ll release next.”

They are strengthening collaboration with adult toy company Dancing Rabbit, which they acquired last year, and are also producing sex dolls with AI and the voices of famous actresses, but these have not yet led to immediate profits.

To continue increasing content investment, it was necessary to secure even more paid subscribers.

At this point, a new figure emerged: Jane Jung, a Korean-American. Formerly an executive at Twitter, she recently moved to Faceit.

There were two reasons why she moved from a global IT company that everyone knows by name to a pornography company: she was intrigued by Toby and Gerard’s vision, and the growth of the pornography industry was enormous.

Jane Jung, who is CCO (Chief Content Officer) of Faceit, said to them.

“Isn’t there a very simple way to increase subscribers? Faceit has succeeded in targeting half of the American population, but why not target the other half?”

Here, the other half referred to women.

It’s not that Faceit has no female subscribers. However, due to the nature of pornography, male subscribers were overwhelmingly dominant.

To the half-doubting duo, Jane Jung stated definitively.

“There are no women in the world who hate pornography. There’s just no pornography worth watching.”

Under her leadership, Faceit began to produce content for women in earnest. Investors’ opinions were generally negative. How many women would actually watch pornography anyway?

However, the opinion of the vice president of OTK Company, the largest shareholder, was different.

“That’s a very good idea. If you need more investment, we will support you, so go ahead.”

Jane Jung thoroughly analyzed videos that female subscribers watched a lot, utilizing the big data she had accumulated. And she wrote scenarios accordingly and selected directors and actors.

Unlike existing pornography that just starts with taking clothes off, it proceeded according to the story. In addition to the video, they also paid great attention to sound, even hiring a female music director separately.

As a result, production costs swelled to the point where they rivaled those of popular dramas or B-movie films. Despite concerns from those around her, Jane Jung was confident of success. And Faceit categorized content separately for women and presented it.

There wasn’t an explosive reaction immediately. However, word of mouth gradually spread through social media, and at some point, the number of female subscribers began to increase explosively.

A new star was also born. John Dickey rose to (pornography) stardom among middle-aged American women due to his handsome face, toned body, and (in bed) mannerly behavior.

Women in their 40s and 50s flocked to watch his videos.

Inquiries about when the next video would be uploaded poured in, and Jane Jung announced that she would produce a season-based pornography series starring John Dickey.

***

The controversy surrounding pornography showed no signs of abating.

Debates continued on the internet.

– If pornography is legalized, Faceit will enter Korea.

– Then isn’t Kang Jin-hoo the only one who benefits?

– Could it be that this is why he advocated for regulatory reform?

– Typical pro-North Korea leftist, so licentious. Even if they shout about freedom and whatnot, in the end they just want debauchery.

– Even if I hate Kang Jin-hoo, I welcome Faceit’s entry into Korea.

– How long are you going to keep seeing it as illegal?
– Can’t you just not watch it?
– How can people live without eating?

TV stations urgently organized related debates. I was asked to attend as a debater, but I declined.

I want to stop talking about pornography now.

Groups opposing pornography gathered in front of the headquarters and held protests. Initially, women’s groups were the main force, but Confucian groups, religious groups, and parents’ groups joined in.

The reason they bothered to come all the way here to protest, instead of the good Gwanghwamun Square or City Hall Plaza, is because OTK Company is the major shareholder of Faceit, the world’s largest pornography company.

I sighed.

“This is driving me crazy.”

It seems like not a day goes by peacefully these days.

Taek-gyu looked out the window.

“If they’re going to protest, shouldn’t they be doing it in front of Faceit headquarters, not here?”

“America is far away, you see.”

For reference, protests by American women’s groups frequently take place in front of Faceit headquarters. Toby and Gerard don’t seem to care.

The chairman of ‘Mothers for Safe Child Rearing,’ nicknamed ‘An-A-Ki,’ shouted with a megaphone.

“I am here in this position not as the chairman of An-A-Ki, but as a mother with middle and high school sons! My sons are studying safely and healthily without even knowing what pornography is! Our children are full of curiosity! They are curiosity heavens! But what would happen if pornography is allowed? Children who know nothing will only watch pornography instead of studying! Pornography is unhealthy and stimulating! If they spend their study time watching pornography, they will become fools who cannot solve a single exam problem, fail the college entrance exam, and not be able to go to university! Then this country will collapse!”

Taek-gyu said, watching the scene.

“I wonder if the kids are really not watching porn, as their mom believes?”

“Hmm.”

Maybe they’re watching it secretly?

“But you watched a lot of porn when you were in school, and you still got into Korea University just fine.”

“……I didn’t watch that much.”

Taek-gyu patted my shoulder and said.

“Why can’t you be honest? Let’s Faceit. Think about Toby and Gerard.”

“…….”

Aren’t those two too honest?

The spark of controversy, which began with a petition from anonymous netizens, has now moved to the National Assembly. The reason is the bill proposed by Assemblywoman Lee Jung-hye to strengthen the crackdown and punishment of pornography.

The requirements for bill proposal have already been met. Unless something unusual happens, it will be put to a vote in the plenary session.

Netizens were already trembling with anxiety and fear.

“It might actually pass at this rate.”

There is no need to explain how useless this bill is. However, as many groups are already supporting the bill, opposing it would do more harm than good.

Taek-gyu said with his arms crossed.

“Roses bloom even on asphalt, there should be one hero in the National Assembly.”

***

It is customary for the Legislation and Judiciary Committee chairmanship to be held by the first opposition party. Currently, the chairman of the Legislation and Judiciary Committee is Assemblyman Hong Eui-hwa of the New Politics Party.

At the meeting held for bill deliberation, Assemblywoman Lee Jung-hye strongly criticized the government.

“Despite the fact that there are laws regulating obscenity, such as the Law on Prohibition of Manufacturing Obscenity, Distributing Obscenity, and Distribution of Illegal Information, proper crackdowns and punishments have not been carried out. What was the government doing while the internet became a breeding ground for illegal pornography? In order to establish a healthy sexual culture, we must strengthen the law and eradicate illegal pornography.”

Assemblywoman Lee Jung-hye created the bill, but as New Politics Party lawmakers also participated in proposing it, it was expected to be processed without any problems.

However, an unexpected variable appeared.

“May I say a word?”

It was Assemblyman Nam Seong-gwi.

A lawyer by training, he was listed as number 19 on the New Politics Party’s proportional representation list in the last general election. Unfortunately, the New Politics Party only secured 17 seats.

He seemed to be on the verge of being dropped, but the 7th proportional representative left the party due to personal reasons, and the 15th was expelled due to corruption, and he, as the next in line, fortunately entered the National Assembly.

Subsequently, in the last general election, he ran in the Gyeonggi region and narrowly won against the Liberty National Party candidate by a margin of 0.3 percent. This was the smallest vote difference in all constituency elections, and netizens nicknamed him ‘Lucky Gwi.’

“What is such a big problem with adults watching pornography?”

The Legislation and Judiciary Committee members were surprised because he had not been very prominent until now.

“Are the people fools? If the government bans and cracks down on pornography, do you think they won’t watch it?”

Assemblywoman Lee Jung-hye, regaining her composure, said.

“That’s why we need to strengthen the law to stop them.”

“Then, in the meantime, were people watching pornography because the punishment was weak? Absolutely not. The more punishments and crackdowns are strengthened, the more it will go underground. Sexual desire is a human instinct, along with appetite and sleep. It is the role of the state to allow it to be resolved legally and healthily. I can’t see what the problem is, no matter how much I think about it.”

Assemblywoman Lee Jung-hye said in an irritated voice.

“Do you know how many women are harmed and suffer pain due to illegal pornography on the internet right now? Some even take their own lives!”

Assemblyman Nam Seong-gwi calmly retorted.

“The Ministry of Gender Equality and Family and you, Assemblyman, are talking about illegal filming and revenge porn as if they are the same as legally made pornography from overseas, but aren’t these two clearly different?”

“What’s different?”

“Then, are videos of assault where people are beaten the same as action movies where protagonists fight? Illegal filming clearly has victims. However, pornography is produced by production companies paying appearance fees to adult men and women.”

“Think about it, Assemblyman. Do you think those women wanted to film pornography? Most of them filmed out of necessity because they needed money. They are also victims!”

This was the same logic asserted by women’s groups.

Even if the person concerned consented, the consent itself was made in a power relationship, so it cannot be seen as true consent.

“According to your logic, Assemblyman, the United States is creating numerous female victims by not regulating pornography, but do you, who value women’s rights, have any intention of formally protesting to President Ronald?”

“Ah, no, that’s America’s business. This is Korea.”

“Okay. Then, women who filmed erotic movies and nude photo shoots are also all victims, but why aren’t these regulated? Are you going to punish all the presidents of erotic movie production companies?”

“But they don’t actually engage in sexual acts!”

“Larry Flynt said this: ‘Murder is illegal, but filming it wins a Pulitzer Prize. Sex is legal, but filming it gets you in jail.’ Which developed countries are illegally regulating pornography? Is it such a big wrong for adults with sexual desires to resolve their desires through legally made videos? That’s why developed countries with high levels of human rights allow pornography.”

Assemblyman Nam Seong-gwi took out a bundle of documents.

“The data I have brought is a report on the global pornography industry. It is a 20 trillion won market annually in the United States alone. In other developed countries except Korea, the pornography industry is rapidly growing, and employment is also greatly increasing. However, only Korea is pursuing regulation-oriented policies like Galapagos.

“Are you now saying that we should legalize pornography, Assemblyman Nam Seong-gwi?”

“I’m not arguing for immediate full liberalization either. However, rather than unconditionally blocking it illegally, there is a need to legalize it and bring it into the system for management. An environment must be created where people can watch pornography that is legally produced and distributed under government regulation. This is also a matter of promoting freedom of expression and individual freedom.”

Assemblywoman Lee Jung-hye continued to raise his voice.

“Do you think it’s okay for our people to watch obscene pornography and have obscene fantasies? What will become of this country then?”

“So, haven’t they been watching it until now?”

“Wh-what did you say?”

“Don’t be mistaken that the government can even control people’s sexual desires. What is this but Prohibition?”

Assemblywoman Lee Jung-hye, at a loss for words, shouted angrily.

“Hey! Assemblyman Seong Gwi-nam!”

Assemblyman Nam Seong-gwi also shouted back.

“It’s Nam Seong-gwi, not Seong Gwi-nam. Do you know what the people call the lawmakers who signed the bill proposal? They call them Sip-Seonbi, Sip-Seonbi.”

Assemblywoman Lee Jung-hye’s face turned bright red, and she stood up abruptly and pointed her finger.

“What? Sip-Seonbi? Where did you learn to diss me like that! Resign!”

[TL/n: “Sip-Seonbi” means a scholar. Also Lee Jung-hye is a woman. In previous chapters I’ve mentioned her as a man. Apologies for the mistake]

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An Investor Who Sees The Future

An Investor Who Sees The Future

Investors who see the future, 미래를 보는 투자자
Score 9.7
Status: Ongoing Type: Author: , Artist: Released: 2017 Native Language: Korean
“There may be great entrepreneurs, but there are no great investors. That's the reality of this country.” One day, something started to appear before my eyes. What could I possibly do with this ability? From now on, I will reshape the global financial landscape!

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