SEOUL (THE KOREA HERALD/ASIA NEWS NETWORK) - Actor Lee Min Ho and actress Gianna Jun will star in the forthcoming project of Park Ji Eun, writer of the 2013 hit K-drama My Love From The Star, say industry associates.

Chinese media platforms are already battling for distribution rights to The Legend Of The Blue Sea, Park's adaptation of Hans Christian Andersen's fairy tale The Little Mermaid.

It has been reported that one media agency has offered about 590 million won per episode, and that the production company expects more bidders in the near future.

Many industry insiders are assuming that the deal, if successfully inked, will break the record price for this year's mega hit, Descendants Of The Sun.

Industry associates say top-tier stars Lee (The Inheritors, 2013) and Jun (My Love From The Star) have confirmed their roles since receiving information on the synopsis of The Legend Of The Blue Sea.

The project will mark Jun's return after a maternity break and will be Lee's first drama in three years.