'Parasite' director Bong Joon-ho to helm most expensive Korean film ever

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Filmmaker Bong Joon-ho, renowned for his Oscar-winning film "Parasite," is set to direct the most expensive Korean film in history.

About the film: Bong's upcoming project is an animated film about deep-sea creatures and has a budget exceeding 70 billion won ($52 million), reported South Korean platform Daum. The film is being produced with full CG animation by Korean VFX company Force Creative Party, a company that has previously collaborated with the filmmaker. The film, which will begin production this year, is set for a global release through Sony Pictures.

Surpassing records: With the budget, the still-untitled animated film is set to surpass Bong's previous record-holder, "Okja," a Netflix and Plan B Entertainment collaboration with a $50 million budget. It also pushes past his 2013 sci-fi thriller "Snowpiercer" ($40 million), which was previously tied with the 2023 historical action film "Noryang: Deadly Sea" as the second most expensive South Korean film.

Story development: Bong began crafting the screenplay for the upcoming film in 2018 and completed it in Jan. 2021. While details of the plot remain under wraps, the film reportedly explores the relationship between marine life and humanity. Bong will be working with cinematographer Hong Kyung-pyo, who also worked with him on "Parasite."

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Hollywood project on hold: Bong was previously reported working on "Mickey 17," an American science fiction film starring Robert Pattinson, Steven Yeun and Toni Collette, based on the 2022 novel “Mickey7” by Edward Ashton. The film, which Bong wrote, directed and coproduced, was placed on a delayed release due to post-production adjustments.

Bong may reportedly split his time between Korea and the U.S. for ongoing work, with a possible May premiere at Cannes.

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