Korean showman, Shim Hyung-rae announced that a sequel to his "D-War" monster-disaster movie will be made as a co-production with China.
Shim announced the new project at a press conference in Beijing on Saturday, according to Korean news agency Yonhap. Called "D-War II: Mysteries of the Dragon," the film will begin production in June and be set for release in mid-2017.
Production involves China’s H&R Global Pictures, with finance from state-controlled Chinese Culture Group. Shim said that Chinese Culture is contributing a budget of $77 million (RMB500 million.)
His previous "D-War" (aka "Dragon Wars") was also a mega-budget effects-driven fantasy that involved time travelling and a gigantic snake-like dragon that curled its way around Los Angeles landmarks causing mayhem. The cast was headed by Robert Forster and Elizabeth Pena. Despite a budget that nearly crippled its backers, the film ended up as a hit, selling 8.4 million ticket in Korea and earning $11 million at the box office.
The new film will be set in 1969 and depict a fictional war between the U.S. and Russia as they race to land the first person on the moon.
"It will carry significant meaning in that South Korea and China get to forge collaboration in the video contents sector after their free trade agreement deal," Shim reportedly said at the event.