Korea's iHQ finds 'Love' in co-prod'n pact
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BUSAN, South Korea -- Korean entertainment company iHQ is head-over-heels for "Let's Fall in Love," a 6 million yuan ($800,000) co-production with companies in China and Hong Kong.
The project, announced Thursday, partners iHQ and its Beijing affiliate Beijing iHQ SK with Chinese film studio Beijing PolyBona Film, Hong Kong's October Pictures and Korean production house Nabi Pictures.
iHQ will supply 3 million yuan of the budget, PolyBona 2.5 million and Nabi 0.5 million.
October Pictures is involved with production and China marketing.
"Love" is slated to have a Chinese producer and mostly Chinese cast and will open in China first, expanding to other Asian territories depending on how well the film is received.
China has been a major focus for Korean film companies recently, with several opening multiplexes and entering into co-production deals.
iHQ is a diversified entertainment house, with division in film production, talent management, online gaming and more. It opened the Beijing affiliate in August.
Nabi Pictures has long had ties with China, since Nabi president Kim Sung-su directed much of his 2001 movie "Musa" in China.