Jason Blum‘s Blumhouse Productions will co-produce at least six Korean-language genre films over the next five years along with Showbox Corp. and Ivanhoe Pictures, it was announced Tuesday.
The partnership aims to combine Blumhouse’s genre expertise with Showbox’s remarkable track record in Korea, having produced and distributed four of the top-10 highest grossing films in that country’s box office history. Films selected for funding by the two parties will be fully financed by Ivanhoe, and Showbox will manage the production as well as marketing and distribution in Korea.
Blumhouse specializes in micro-budget genre movies, including the “Paranormal Activity,” “The Purge,” “Insidious” and “Ouija” franchises, which have grossed over $1.4 billion worldwide. Blumhouse’s film “Whiplash” won three Oscars, while Showbox is one of the major movie studios in Korea, having produced well-known titles such as “The Host,” “The Chaser,” “The Yellow Sea” and “The Thieves.”
Ivanhoe is a production/financing company focused on the North American and Asian markets that recently co-produced and co-financed a slate of Asian films with Fox International Productions.
“We aim to recruit new writers and directors with unique ideas in Korea,” said Jeong-Hun You, CEO of Showbox. “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.”
“We have always admired Showbox and are excited to partner with them on these co-productions while extending our relationship with Ivanhoe,” said Jason Blum, CEO of Blumhouse. “We look forward to bringing our love of genre to Korean audiences.”
“When it comes to great storytelling and quality production in Korean cinema, the Showbox team have a stellar track record,” said John Penotti, Ivanhoe’s Vice-Chairman. “Our partnership with Showbox and Blumhouse will break new ground in the already robust Korean marketplace.”
Meanwhile, Showbox signed an exclusive agreement with China’s Huayi Brothers earlier this year to co-produce at least six films over three years. Venturing into the global film market, 2015 has been a year of rapid expansion for Showbox.
This deal extends Blumhouse and Ivanhoe’s relationship, as the two companies previously partnered with Phantom Films to produce local-language genre movies in India.
CAA brokered the deal on behalf of Blumhouse, with Brian Kornreich for Ivanhoe Pictures.