Warner Bros. Strikes Deal With ‘Parasite’ Producer CJ to Develop English and Korean Language Remakes

Warner Bros . Motion Picture Group has struck a deal with CJ ENM , the backer of Bong Joon Ho's Oscar-winning "Parasite" and Celine Song's acclaimed "Past Lives," to develop, finance and distribute English-language and Korean-language remakes of each studio's films.

Through the new agreement, Warner Bros. Motion Picture Group will take the lead on English-language remakes of CJ ENM's library, while CJ ENM will spearhead Korean-language adaptations of Warner Bros. films.

Each studio will be responsible for the development and productive of their respective remakes, though the other company will provide input on creative decisions like the project's writer, director, producer, cast and budget. Warner Bros. Pictures will serve as distributor globally on all films, with the exception of CJ ENM handling the rollout of its remakes in South Korea, Vietnam, Indonesia and Turkey.

"Miky Lee, CJ vice chairwoman, and the team at CJ ENM have built an enviable slate of films over its history to become a powerhouse producer of Korean cinema, with films that resonate with audiences across the globe," said Warner Bros. Motion Picture Group's co-chairs and CEOs Michael De Luca and Pam Abdy. "We are excited to have the opportunity to work with CJ ENM as we look to expand Warner Bros. Motion Picture Group's movies offerings around the world."

CJ ENM's head of film business Jerry Kyoungboum Ko added, "Warner Bros. is home to a legendary library that bridges Hollywood of past and present and is steeped in excellence. Warner Bros. and CJ have built extensive libraries across North America and Asia, each in their unique way. This collaboration allows us to uncover and revitalize hidden gems, bringing inspiring stories to today's audiences. It's a wonderful privilege to be partnered with an iconic brand that boldly continues to evolve, create and champion storytelling at the highest level."

Warner Bros. has more than 12,500 feature films in its library ranging from "Casablanca," "A Streetcar Named Desire" and "Rebel Without a Cause" to "Harry Potter" and "Barbie." CJ is Korea's largest media and entertainment conglomerate. Its film library includes lauded Korean language movies such as "Past Lives," "Parasite" and "The Handmaiden."