Korean distributor-turned producerChungeorahm Film has signed an investment deal with Japanese distributor HappinetPictures worth $1.7m of production finance.

The deal spans all six films onChungeorahm's intial production slate including disaster movie The River, by Memories Of Murder-director Bong Joon-ho, Hong Sang-soo's untitledsixth film, My Tutor Friend-directorKim Kyung-hyung's forthcoming RomanticComic Book and Spring In My Heartby Ryu Jang-ha. Others are Art Of Seduction by Oh KI-hwan and A BoyWho Went To Heaven by Yoon Tae-yung.

The deal was brokered by Lewis Kim,who began negotiations with the Japanese distributor and financier in April.Chungeorahm has yet to set international sales companies for its upcomingtitles and could well turn to non-Korean representatives.

Chungheorahm, which recently addedKim Ki-duk's Venice hopeful Three Iron,to its distribution slate, is expecting a big summer with Fighter In The Wind as an August release followed by Spring In My Heart, starring ChoiMin-sik, who won the acting Palme in Cannes for his role in Old Boy.