[As confirmed earlier by Deadline], as the original Karate Kid franchise had not just one, but three extra sequels, the last one arriving in 1994 with Hilary Swank taking over as the new student.
Sony's production president Doug Belgrad says, "we've been talking about it for weeks already. We didn't want to jinx anything but we knew we had a playable movie and we were pretty excited about it. So we're already kicking ideas around." As for director Harald Zwart's return: "I would absolutely love to do a sequel. I think working with those guys was the best part of my career… If they want me, I would love to do it again,". Having seen it twice, I can certainly say I'd like a sequel, I just hope they can improve upon the original, and not deliver something worse. Sources at Sony are reportedly directing the story back to U.S soil, and its being reported the evolution of the Sequel will follow close to certain thematic elements in 1986's Part 2.