Having helped put South Korean cinema firmly on the map over the last two decades, legendary director Park Chan-wook is to undertake his first collaboration with streaming giant Netflix, it has been announced.

The 59-year-old will produce and co-write the historical action film War And Revolt, set in Korea 400 years ago during the Japanese invasion of the late 16th century.

In a statement Netflix praised Mr Chan-wook’s “distinct storytelling style and visually stunning films” and stressed the significance of his participation in the project.

Mr Chan-wook’s is best known for his so-called Vengeance trilogy – a series of films which included global hit Oldboy – and for The Handmaiden, his acclaimed 2016 adaptation of Sarah Waters’s novel Fingersmith. He won the Best Director award at last year’s Cannes Film Festival for his Hitchcock-inspired mystery thriller Decision To Leave, and among his English language films are 2013 psychological thriller Stoker, which starred Nicole Kidman and Mia Wasikowska, and his 2018 BBC adaptation of John le Carré’s The Little Drummer Girl. It starred Florence Pugh and Succession’s Alexander Skarsgård

Set against the backdrop of war, War And Revolt will follow the lives of two childhood friends who end up on opposing sides in the struggle. The Japanese invasion of the period is a key moment in South Korean history as it was subsequently used to justify the Japanese colonial occupation of the early part of the 20th century, itself the subject of The Handmaiden.

The new film will be directed by Kim Sang-man and stars Gang Dong-won and Park Jeong-min alongside Cha Seung-won and Kim Shin-rok, star of Netflix hit Hellbound. Rounding out the cast are Jin Seon-kyu and Jung Sung-ill, who features in another Netflix hit, the space western Space Sweepers.

War And Revolt will be produced by Mr Chan-wook’s own company Moho, which also produced Oscar-winning director Bong Joon-ho’s English language sci-fi smash Snowpiercer.

The news follows the announcement that Netflix will invest £2 billion in South Korean films, series and unscripted shows over the next four years.

Globally, 60% of Netflix subscribers have watched South Korean content, thanks in large part to the success of Squid Game. The dystopian thriller debuted in late 2021 and remains the most watched series on Netflix, followed by the final season of Stranger Things and the first season of Wednesday.

Inspired by its success, November will see the launch of Squid Game: The Challenge, a UK-based production offering the largest cash prize in reality TV history and based on games inspired by the those which feature in the original series.