John Woo’s Legend of The Magic Bell, King’s Ransom

John Woo is one busy man. With his big-budgeted “Red Cliff” scheduled to hit the International circuit very soon, Woo’s already lining up a couple of high-profile projects. The first is finally getting together his “King’s Ransom”, a movie Woo has been attached to since the ’90s. According to Variety, Woo and his producing partner Terrence Chang will finally get the movie made, but not with Woo directing as per the original plans. Instead, longtime Woo protege Patrick Leung will direct.

“King’s Ransom” is a caper film about two circus acrobats and the woman who comes between them. The film was originally set up at 20th Century Fox, but will now be produced by Fox Star, the Asian arm of Fox. They’re looking at possibly shooting the film in China, and will need a Chinese producing partner in order to release the film to the huge Mainland Chinese audience.

Meanwhile, Screen Daily reports that Woo and Chang are also working on another big-budget movie, this time a fantasy/actioner called “Legend of the Magic Bell”, which is being eyed as a $30 million dollar epic.

Chinese actress Renee Yuan will star in the film, with Korean TV director Kim Jong-hak taking the directorial reins. Woo and Chang, again, will produce along with Kimjonghak Production and Im Jang-dal’s Taiwan-based Tosoa Entertainment.

“The Legend of the Magic Bell” will be based on a Chinese story set 5,000 years ago, and is about a warrior who falls in love with a beautiful demoness but is forced to transform her into stone in order to save humanity. Their paths cross again 5000 years later when the warrior has been reincarnated as a demon hunter.

According to director Kim Jong-hak, he’s currently in talks with two South Korean actors, Won Bin (”Mother”) and Rain (pictured below, of “Speed Racer” and the upcoming “Ninja Assassin”) to star as the film’s male leads.

“Magic Bell” will be shot in 3D, with production set for early 2010.