There's good news for 'The Karate Kid' fans, as it appears Kung-fu action hero, Jackie Chan could be mentoring a remake. He is in the midst of negotiations for a starring role in Columbia's remake of 'The Karate Kid', possibly as Mr. Miyagi, who Pat Morita made famous in the original franchise.

Actor Will Smith's son, Jaden Smith is in the running to play Miyagi's young protege, the role originally played by Ralph Macchio. Harald Zwart has been signed on by the studio to direct the picture, and with the setting relocated from USA to China, shooting is possibly scheduled to begin this year in Beijing.

As in the original film, Will Smith's Overbrook Entertainment, producing the film together with Jerry Weintraub, its' original producer, will examine the relationship between a martial arts expert and a boy picked on by bullies.

Columbia finds Jackie Chan's massive overseas appeal very conducive to good business, considering his 'Rush Hour' franchise with Chris Tucker earned about $750-million worldwide.