Michael Bay, Scott Gardenhour’s The Institute pre-sells live-action 3D fairytale.

New Korean outfit Bloomage has taken local rights to The Institute’s live-action 3D reimagining of the classic Hansel and Gretel fairytale, due to go into production in early 2012.

The big-budget fantasy is being produced by Scott Gardenhour of The Institute and Kira Madallo Sesay of Kalliope FIlms. Kira Madallo Sesay scripts with Karen Lindsay-Stewart casting and Joseph C. Pepe, key character designer from Avatar, on board to introduce new creatures to the Brothers Grimm story.

Bloomage is headed by acquisitions veteran Michelle Park. Michael Bay co-founded The Insitute with Gardenhour.