China Film Group and Pegasus & Taihe Entertainment will invest $20 million in director Park Kwang-hyun\u2019s sci-fi fantasy \u201cThe Fist,\u201d which will be released simultaneously in the two Asian countries.<\/p>\n
South Korean media and entertainment giant CJ E&M (formerly CJ Entertainment) announced Monday that it has secured the largest-ever single-movie investment from China for its upcoming sci-fi fantasy The Fist (working title).<\/p>\n
CJ said it signed an investment letter of intent on April 21 with China\u2019s state-backed studio and distributor China Film Group and the private production and investment company Pegasus & Taihe Entertainment.
\nThe two Chinese companies will co-invest, co-produce and later distribute the film nationwide in China. They will finance some 30 percent \u2014 $20 million \u2014 of the budget.<\/p>\n
\u201cThe Fist is meaningful in that it presents a new model for Korean cinema\u2019s growing influence in world cinema,\u201d said Jung Tae-sung, head of CJ E&M\u2019s film division. \u201cWe expect that it will introduce an unprecedented paradigm in terms of opening up a market for international funding and raising the bar for Korean blockbusters.\u201d<\/p>\n
Set in the future, The Fist is about a man that can\u2019t stay quiet when he observes injustice. He ends up in a village in the deep woods and embarks to battle dark forces threatening the small community.<\/p>\n
Park Kwang-hyun, known for the popular 2005 Korean War drama Welcome to Dongmakgol, is penning and directing the story. The film project also made headlines two years ago when it became rumored that actor Zo In-sung would be cast in the lead role, but at this point the lead casting remains unconfirmed. <\/p>\n
Pegasus & Taihe Entertainment and CJ have previously announced a co-production partnership on the upcoming Beijing, Imperial City, a historical epic about the Chinese capital. James Cameron\u2019s Cameron Pace Group has also signed on to provide 3D technical support and production for the film. Imax is also a partner on the project. <\/p>\n
Source: https:\/\/www.hollywoodreporter.com\/news\/cj-e-m-unveils-largest-569728<\/p>\n","protected":false},"excerpt":{"rendered":"
China Film Group and Pegasus & Taihe Entertainment will invest $20 million in director Park Kwang-hyun\u2019s sci-fi fantasy \u201cThe Fist,\u201d which will be released simultaneously in the two Asian countries. South Korean media and entertainment giant CJ E&M (formerly CJ Entertainment) announced Monday that it has secured the largest-ever single-movie investment from China for its […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-5372","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\n