D'Works releasing Korean 'Typhoon'
Pic is first Korean feature released by a U.S. major
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It has pacted with South Korean major CJ Entertainment for the multilanguage pic, helmed by K.T. Kwak, about a modern-day pirate planning a massive attack on North and South Korea.
Pic is the first Korean feature released by a U.S. major.
Shot on location in Thailand, Korea and Russia, "Typhoon" has earned a record 1.8 million admissions, totaling $11.1 million, in Korea over its first five days of release, despite a cool reception from local critics.
"Typhoon" has an officially stated budget of $15 million, but it is rumored to be several million dollars higher. It features local star Jang Dong-gun, who also appears in Chen Kaige's "The Promise," which posted a record-setting bow in China the weekend of Dec. 16 .
In a statement released by CJ on Tuesday, DreamWorks distrib prexy Jim Tharp noted the growing popularity of Korean films internationally and praised the "high quality" of Kwak's film.
Negotiations over a release have been taking place since CJ sent a 50-minute promo to the studio last month.
Kwak and CJ reps will travel to the U.S. next month to discuss the cut of an alternate version of the pic, which currently unspools at 124 minutes, and to negotiate on the timing, scale and profit-sharing arrangement of a release.
CJ is a founding shareholder in DreamWorks and distributes the studio's films in Korea and selected Asian territories.
It opened an office in L.A. this spring and has shown heightened interest in the past year in targeting the U.S. market.
