The 2010 remake of The Karate Kid was a surprise hit for Columbia/Sony, earning $359 million in worldwide box office. It only took days after The Karate Kid's $56 million opening weekend for Sony to start meeting with writers about a sequel, eventually hiring Kung Fu Panda screenwriters Cyrus Voris and Ethan Reiff to write a sequel script in August of 2010.
Looks like the studio is finally moving forward with the sequel, as Variety reports that The Incredible Hulk screenwriter Zak Penn has been hired to rewrite the script. Plot details are still under wraps, as is the sequel's title. The 1986 sequel to the 1984 original moved the action from California to Okinawa, Japan, but since the remake was set in China, the sequel could move back to the U.S., but that remains to be seen.
No deals have been finalized, but Jaden Smith and Jackie Chan are expected to return. No word was given about director Harald Zwart, though he admitted in 2010 that he was "open to anything."
Whatever the second Karate Kid is about, we suggest bringing back Ralph Macchio as the sequel's antagonist. You're welcome, Zak. Give us a call for more ideas.