France's Wild Side Films acquired French-speaking territories for the film at last year's Asian Film Market, making it the first ever pre-sale of a Singaporean indie film to a major territory.
The horror love story revolves around a young Chinese embalmer who is emotionless in the face of death until he has to confront the haunting of his loved one.
Lim, a longtime producer and distributor, is making his directorial debut with Untold Beauty. The film has an estimated budget of $1m and is scheduled to go into production this spring.
Core Studio's slate also includes first-time director Kim Tae-gyun's upcoming film Sword And Flower, based on the local bestselling novel Bang-gakbon Salin Sagun.
Other films include black comedy hit-man film No Mercy For The Rude, which The Weinstein Company picked up at last year's Asian Film Market, and Zig Zag Love, a romantic comedy set for release in the middle of this year.