Spike Lee will direct the remake of Chan-Wook Park’s Oldboy, according to Variety. The film was originally to be directed by Steven Spielberg with Will Smith starring, but that option faded away. One element of that version remains, though, the script by I am Legend writer Mark Protosevich (see “I am Legend Scribe on ‘Old Boy’”).  When Protosevich was hired, word was that the remake was going back to the manga by Garon Tsuchiya and Nobuaki Minegishi (sold in the U.S. by Dark Horse) as source material. 
Lee has other work to complete first; he just started shooting Red Hook Summer, in which he will play Mookie, the character from his hit Do the Right Thing, according to Rope of Silicon.   

Park's Oldboy won the Grand Jury Prize at Cannes in 2004.