Warner Bros. just found a way to make English-language versions of “Parasite” and “The Handmaiden.”
The Warner Bros. Motion Pictures Group and Korean studio CJ ENM have entered an agreement to co-develop, co-finance, and distribute English-language and Korean-language feature film remakes of each studio’s films. It will start with Warner Bros. as a lead studio on an English-language remake of a CJ ENM film, and then the reverse will happen. Those first two titles to be remade from the studios’ respective libraries have not been announced.
“Miky Lee, CJ Vice Chairwoman, and the team at CJ ENM have built an enviable slate of films over its history to become a powerhouse producer of Korean cinema, with films that resonate with audiences across the globe,” Warner Bros. Motion Picture Group’s Co-Chairs and CEOs Michael De Luca and Pam Abdy said in a statement shared with the press on Tuesday. “We are excited to have the opportunity to work with CJ ENM as we look to expand Warner Bros. Motion Picture Group’s movies offerings around the world.”
CJ ENM’s Head of Film Business Jerry Kyoungboum Ko returned the compliment, saying, “Warner Bros. is home to a legendary library that bridges Hollywood of past and present and is steeped in excellence. Warner Bros. and CJ have built extensive libraries across North America and Asia, each in their unique way. This collaboration allows us to uncover and revitalize hidden gems, bringing inspiring stories to today’s audiences. It’s a wonderful privilege to be partnered with an iconic brand that boldly continues to evolve, create and champion storytelling at the highest level.”
Warner Bros. Pictures and CJ ENM will be responsible for the development and production of their respective remakes, the companies said in a joint press release, with each “providing meaningful input on key creative decisions,” like each project’s writer, director, producer, and cast, as well as “shared oversight of a film’s budget.”
It will be Warner Bros. Pictures to serve as global distributor of the films, with the notable exception of South Korea, Vietnam, Indonesia, and Turkey on CJ ENM remakes. CJ ENM will handle distribution into those markets itself.
CJ ENM is already working with Warner Bros. Pictures’ sister company HBO on an English-language series remake of “Parasite” from Adam McKay. And CJ is also in development on an English-language remake of another one of its films, “Save the Green Planet,” which Ari Aster is producing.
Warner Bros. Discovery, the parent company to Warner Bros. Motion Pictures Group and Warner Bros. Pictures, has more than 12,500 feature films in its library, the company said. In addition to “Parasite” and “The Handmaiden,” CJ ENM was behind Celine Song’s debut “Past Lives.”
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