Warner Bros. Motion Pictures Group and CJ ENM have unveiled a deal to jointly develop, finance and distribute English-language and Korean-language feature remakes of each studios films.

The new agreement will see Warner Bros. become the lead studio on English language remakes originating from CJ ENMs library, while Miky Lees CJ ENM will take the lead on Korean language movies drawn from the extensive Warner Bros. Pictures library.

Miky Lee, CJ vice chairwoman, and the team at CJ ENM have built an enviable slate of films over its history to become a powerhouse producer of Korean cinema, with films that resonate with audiences across the globe. We are excited to have the opportunity to work with CJ ENM as we look to expand Warner Bros. Motion Picture Groups movies offerings around the world,Warner Bros. Motion Picture Groups co-chairs and CEOs Michael De Luca and Pam Abdy said in a statement on Tuesday. As a pioneer of the Korean movie wave, Lee has championed Korean directors like Park Chan-wook and Bong Joon Ho, and has executive producer credits that includeLady Vengeance,The Host,Snowpiercer,The HandmaidenandParasite, the latter of which was the first non-English-language film to win the Oscar for best picture.

Warner Bros. Pictures and CJ ENM will be responsible for developing and producing their respective remakes, with each assisting on key creative decisions, including a movies writer, director, producer and cast, as well as shared oversight of a films budget.

Warner Bros. Pictures will distribute the films globally, except for CJ ENM handling releases in South Korea, Vietnam, Indonesia, and Turkey on its own remakes.

CJ ENMs head of film business Jerry Kyoungboum Ko added in his own statement: Warner Bros. is home to a legendary library that bridges Hollywood of past and present and is steeped in excellence. Warner Bros. and CJ have built extensive libraries across North America and Asia, each in their unique way. This collaboration allows us to uncover and revitalize hidden gems, bringing inspiring stories to todays audiences. Its a wonderful privilege to be partnered with an iconic brand that boldly continues to evolve, create and champion storytelling at the highest level.