Korea's Activers Entertainment has announced a deal with Ashok Amritraj's Hyde Park Entertainment and investment banking firm Film Financial Services (FFS) to co-produce Against Conspiracy (working title), a $20m film based on 'the Korean Mata Hari story' of Kim Soo-im, a woman accused of and executed for being a North Korean spy in 1950.

Against Conspiracy will be an English-language film shot 70% in Korea and 30% in the US.

The story of Kim Soo-im and her relationship with US colonel John E. Baird and North Korean Communist official Lee Gang-kook has previously been dealt with in numerous films, TV dramas and documentaries.

But most notably, it wasexamined in an August 2008 AP story by Pulitzer Prize-winning journalist Charles J. Hanley who reported on recently declassified US Army papers that show the possibility that the whole incident may have been nothing but a Cold War sensationalist frame-up in the heated days that led up to the breakout of the Korean War.

Activers acquired rights to Kim Soo-im's story from her son Wonil Kim in 2006.

Ashok Amritraj and Patrick Aiello from Hyde Park, FFS CEO David Sheldon and Activers CEO Peter Seo and writer Martin Cho will share producer credits.

Hyde Park and FFS will handle the film's financing and take worldwide distribution rights excluding Asia; while Activers will handle the Korean side of the production and take distribution rights for Korea and the rest of Asia.

Activers will own the rights to the film while Hyde Park gets first look options on sequels. Hyde Park and FFS will take 50% of total profits for their investment and Activers will take the other 50%.

Korean producer Martin Cho wrote the film's synopsis and treatment based on the true story, and Paul Aiello is currently writing the screenplay in English.

The film will be directed by a Hollywood director, yet to be announced.

Against Conspiracy looks to start production in the second half of 2009 to be released worldwide in 2010.