Continental goes into 'Laundry' business


SEOUL -- Specialty finance and investment company Continental Entertainment Capital on Wednesday said it is investing in the $47 million Korea-U.S. co-production "The Laundry Warrior."

The film recently wrapped principal photography in New Zealand. It is produced by Barrie Osborne ("Lord of the Rings"), Michael Peyser ("Ruthless People") and Lee Joo-ick ("Seven Swords") for their Sad Flutes production shingle.

The film's total production capital comes from a combination of CEC and third-party equity.

"We believe there is a strong crossover appeal for this film," Jeffrey Andrick, CEC managing director, said in a statement released at the Hong Kong Filmart.

Written and directed by first-time filmmaker Lee Sngmoo, "The Laundry Warrior" is the story of an Asian warrior who hides in the American badlands.

"It starts with a remarkable story and when you factor in marquee producers and a cast that includes Geoffrey Rush, Kate Bosworth and Jang Dong-gun, you have a film as promising as any other out there," Andrick said.

Launched in April 2007, CEC is a subsidiary of Continental Entertainment Group.

Kathy Morgan International is selling international territories while Osborne and Peyser are handling North American distribution rights.