What to do

Okay, so I'm still teaching Koreans here in Ampang; hey I am still teaching the Malay, Chinese and Indian as well.

I have one problem child, well he's not so much a child as he is a teenager, you know that age; the one where you rebel against everything. The teacher says it's black, so, he says it's white.
I don't mind so much, but he is now disrupting the class. He is a smart boy and when I say smart I mean intelligent! he can work out things very quickly , and understands very quickly in Korean but will not try in English.
Maybe he thinks he doesn't need the language , he comes from a very rich family, so, has a job and doesn't need to work hard at it because he is an only son, therefore he is the apple of his fathers eye and can do no wrong.
I want to help this boy as he reminds me of me, when I was his age.

Do you have a solution, where we both win, I can't lose face in class, and still command the other boys but I can't let he get away with being a disruption but I don't want to bear down on him it didn't do me any good so why would it do him any good.
What do you think?
1. jump on him and punish.
2. bear the trouble he causes and ignore him.
3. lose face and let him win thereby taking control of the class.
4. {I've already spoken to his father} Speak to his parents again.
5. kick him out of my class.
6. _______________________ your personal solution.