Seoul-based venture capital firm Digital Nega, a subsidiary of entertainment magazine publisher Nega, is financing a trio of digital features by prominent Asian directors Fruit Chan, Park Ki-Hyung and Hideo Nakata.
Although the themes of the three films differ, all are being shot using Sony HD Cam 1080/24P digital cameras and have budgets of about $800,000. Digital Nega claims it is the first Asian company "to have such well-known directors shoot in digital format for theatrical release."
Digital Nega is currently the sole investor in the package but expects other Korean media companies, including the KTV network, to participate. "We should get some financing from them this September," said Digital Nega executive producer Kim Chul-Soo.
The package includes:
One important goal of the project, according to Kim, is to expand Digital Nega's presence in the three main Asian markets of Hong Kong, Japan and Korea. "We wanted to work with successful and experienced directors to achieve this goal," said Kim.