Spreading Remake Rights Transactions of Popular Korean Content
With the recent acceleration of Korean content's leap into the global media market, Korean IP and remake rights transactions are also becoming more active.
Recently, it was reported that the Japanese version of the movie <The Outlaws> has been confirmed. Following the remake of the same actor Ma Dong-seok's film <The Gangster, The Cop, The Devil> in Hollywood, <The Outlaws> was also decided to be remade in Japan. The actor will also participate as a co-producer for the remake of <The Outlaws>.
According to the local media, including Japan's PR TIMES, Japanese entertainment agency established the new entertainment company in partnership with Korea’s venture capital company. They confirmed the remake of the movie which achieved the huge hit in 2018 Korean box office.
The movie has accumulated sales of about USD 10 million dollars (56.3 billion won) in theaters, ranked third in the nation's all-time Rated-R box office hits and recorded the first place in sales of all-time supplementary rights.
<The Outlaws 2> is also under production and planned to be released simultaneously in Korea and Japan.
It is expected to provide fresh spectacle a new villain added around the original character and storyline. Meanwhile, <The Outlaws> is a film about a group of violent crime detectives who came over from Ha’erbin in 2004 and quickly destroyed the emerging criminal organization that terrorized the Republic of Korea.
In addition, it is reported that a U.S. film production company recently requested the purchase of the remake rights of director Cho Sung-hee's film <Space Sweepers>. After receiving the offer, it is still undecided whether to negotiate, but it is meaningful that Korea's first space SF film has been under discussion for the remake in Hollywood.
<Space Sweepers> depicts what happens when the crew of the ‘Seung-Ri-ho,’ who cleans up space junk against the backdrop of 2092, found Dorothy, known as a weapon robot for mass destruction. After it was released on Netflix, it has also received positive responses from overseas markets, ranking first in most watch movies on Netflix around the world.
The movie was initially planned by the investment company Mary Christmas to be produced for movie franchise from the early stages of production, and follow-up series are known tube considered by production company.
As the number of popular content across borders is increasing in the global market, the strategy for content production and IP utilization is expected to be more diversified. In addition, competitive Korean content is expected to have more opportunities to enter overseas market and expand its influence in various ways.