Scheduled for release in 2010, the project will be directed by Kim Sung-su whose credits including Musa The Warrior and Running Wild. Celestial owns rights to the 760-title Shaw Brothers library and has been developing a raft of remakes with different companies.
Sidus, which has credits such as box office hits Tazza: The High Rollers and My Scary Girl, has also announced that Choi Pyung-ho has been appointed as CEO of the company, replacing Tcha Seung-jai and Kim Mee-hee who stepped down last week. Choi joined Sidus last October as executive vice president of investment and distribution and before that served as executive vice president of CJ Entertainment.
Under Choi, Sidus plans to produce two to four big-budget films a year, such as the One Armed Swordsman remake, along with US remakes of its own movies.
The company, which is owned by Korean telco KT Group, has also established an international sales arm headed by former Prime Entertainment executive Juyoung Park. It is launching four new titles at Cannes including Kwon Hyeong-jin’s drama Wedding Dress, starring Song Yun-ah, and Chu Chang-min’s I Love You So, a love story revolving around an elderly couple.
The sales arm will also acquire foreign titles, including theatrical and library product for distribution by KT Group. Sidus previously had an output deal for international sales with Hong Kong-based Golden Network Asia which will continue to work with the company on select titles.
Since merging with KT Group in 2005, Sidus has become a content provider for its parent company’s various distribution platforms which span satellite TV, IPTV and mobile.
The production and investment outfit has also put together several entertainment-related funds worth more than $100m. In 2009, it is planning to release around 25 pictures including 20 foreign films – such as Blood: The Last Vampire,Splice, Spread and Pope Joan – along with five Korean films.