The younger Smith is a martial arts practitioner who has appeared in "The Pursuit of Happyness" and will soon be seen in "The Day the Earth Stood Still."
The new "Karate Kid" movie is being produced by Jerry Weintraub, who worked on the first three movies, starring 1980s teen idol Ralph Macchio and the late Pat Morita, as well as a fourth flick starring future double Oscar winner Hilary Swank as "The New Karate Kid" in 1994.
Variety.com said that, like the original movies, the new version will be about a bullied youth who befriends an eccentric mentor and learns to protect himself.
Will Smith will also serve as a producer on the film, the entertainment industry trade newspaper said.
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