Apparently the project is meant to be pretty international: the first 13-episode season will be shot in English and will feature Hollywood actors alongside Korean ones, although it will be set in Seoul and Tokyo.
The manga has seen a large number of anime adaptations, including several anime series, movies, and OVAs. There have also been a couple of live-action versions, including one created by Hong Kong studio Golden Harvest starring Jackie Chan in 1993. Fox released that one in English as well, although apparently Chan himself didn't like the film much. Another Hong Kong film called Mr. Mumble (or Meng Bo) changed all the characters' names and was released in 1996.
But this will be the first non-Hong Kong live-action take on the series, and I for one am totally stoked. (I'm allowed to say that, right? Since it's an '80s manga anyway?)