• 'The Legend of the Blue Sea' is an upcoming 2016 South Korean television series starring Jun Ji Hyun and Lee Min Ho.

'The Legend of the Blue Sea' is an upcoming 2016 South Korean television series starring Jun Ji Hyun and Lee Min Ho. (Photo : YouTube/KPOP News Network)

Numerous Chinese media outlets are vying for the rights of SBS's upcoming drama "The Legend of the Blue Sea," starring actress Jun Ji Hyun, 34 and Lee Min Ho, 29. A Chinese video streaming company reportedly offered 590 million won ($495,000) per episode to secure the show's licensing rights.

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Despite the drama still being at the pre-production stage, numerous giant video company in China are apparently ready with their cheque books. With such big names attached to the much-awaited project, many industry insiders revealed to The Kpop Herald that one company has offered $495,000 for the licensing rights, while the drama's production company hinted that it may go as high as $600,000.

The drama's ensemble cast and interesting storyline build the level of anticipation, awe, and excitement of the viewers, considering that the project will mark Jun's return to the industry after taking a hiatus since late 2015. It also marks Lee's return to the small screen since wrapping up "The Heirs" in 2013.

It was reported that screenwriter Park Ji-Eun, whose previous projects include the blockbuster TV series "My Love from the Star" (2013-2014), personally picked Lee and Jun for her newest masterpiece. It is said that screenwriter Park is confident that the pair will be able to create another TV hit series.

"The scriptwriter has thought Jun and Lee would be the perfect combination from the very beginning, and designed the characters for them," Culture Depot said in a press statement obtained by Variety. "The actors also trusted the writer and the director so much that they confirmed their participation immediately."

With PD Jin Hyuk helming the project, "The Legend of The Sea" follows a county magistrate, Kim Dam Rung, who released mermaids into the ocean. One of the released mermaids was later caught by a fisherman named Heo Joon Jae (Lee).

The drama is based on "Euo Yadam," a short-story collection of Joseon scholar, Yu Mong-In. In addition to the above-mentioned characters, "Queen of the Office" actor Lee Hee Joon has been cast to play Jo Nam Doo. More details on the project will be revealed soon.

"The Legend of the Sea," which marks Lee's last project before he enters into his two-year mandatory military service, will begin airing on SBS's Wednesdays-Thursdays slot in November.

Check out YTN's report on the upcoming pair-up of Lee and Jun for the much-awaited SBS drama below: