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SEOUL — Fast-rising Korean actor Lee Min-ho (“Gangnam Blues”), who has recently been in high demand in Greater China, has been confirmed to star in action-adventure film “Bounty Hunters.”

The film is poised to be one of the most expensive in a growing wave of Korean-Chinese co-ventures. Pitched at Cannes by sales agency, it had a tentative budget of $16 million. More recent data put the budget at $31 million.

Casting was confirmed this week by Lee’s agency. His recent credits also include “Public Enemy Returns,” and TV’s “Boys Over Flowers.”

The movie is to be directed by Korea’s Shin Terra, action comedy (“The Seventh Grade Civil Servant”) and is written by Edmond Wong (“Ip Man”). It is the story of five bounty hunters who chase fugitives for money in China, Hong Kong, Korea and Thailand. Locations are expected to include Korea’s Jeju Island.

The production involves China’s Harmonious Entertainment Shanghai, Hong Kong’s Pegasus Motion Pictures, and Korea’s Starhaus Entertainment. Rights sales are by Pegasus.

“Bounty Hunters” is tentatively scheduled for theatrical release in 2016.