Blumhouse, Ivanhoe Strike Deal With South Korean's Showbox
The agreement is designed to result in at least six Korean-language genre movies.
Blumhouse Productions and Ivanhoe Pictures have struck a co-production partnership with South Korea’s Showbox Corp. to develop and produce six Korean-language genre films over five years.
Showbox, headed by CEO You Jeong-Hun, is the studio behind such films as The Host, The Chaser, The Yellow Sea and The Thieves. Jason Blum’s Blumhouse specializes in micro-budgeted genre movies like the Paranormal Activity and The Purge franchises. Ivanhoe Pictures, headed by Robert Friedland and John Penotti, is a production/financing company focused on the North American and Asian markets and recently has co-produced and co-financed a slate of Asian films with Fox International Productions.
Under the agreement, Blumhouse, Showbox and Ivanhoe will co-develop and produce a minimum of six horror and thriller films during the next five years. Films selected for funding will be fully financed by Ivanhoe, and Showbox will manage the production as well as marketing and distribution in Korea.
“We aim to recruit new writers and directors with unique ideas in Korea,” You said. “I hope this will become an opportunity to revive the Korean thriller/horror film market and for capable Korean producers, writers and directors to advance into Hollywood, reaching a global audience.”
Blumhouse and Ivanhoe previously partnered with Phantom Films to produce local language genre movies in India.
Showbox also has signed an exclusive agreement with China’s Huayi Brothers earlier this year to co-produce at least six films over three years.
CAA brokered the deal on behalf of Blumhouse with Brian Kornreich for Ivanhoe Pictures.