John Woo is set to direct the big budget romancer "1949" for Lion Rock and Fortissimo Films reports Variety.

Based on true events at the end of WWII and the final years of the Chinese Civil War, Chang Chen and Song Hye-kyo star in the $40 million Chinese language epic.

"Lust Caution" and "Crouching Tiger, Hidden Dragon" scribe Wang Hui-ling penned the script. Woo is presently finishing up the work on the Chinese epic "Red Cliff."

Shooting will begin in December in China and Taiwan for release next Christmas.