But Iglesias remains philosophical.
"Obstacles are not uncommon for these kinds of projects," said Iglesias. "Sometimes, it takes a year; sometimes a decade; sometimes they never happen."
If the project never happens, it would be par for the course for the Korean War. The conflict left such little mark on popular culture that it is dubbed "The Forgotten War."
"Korea was not a war like the Spanish Civil War, that intellectuals went to fight in," said Mike Breen, author of "The Koreans." "There are books and movies about it but no classics; it needs to be revisited in modern times."
Despite its near invisibility in art, the Korean War marked numerous Cold War milestones.
It was the Cold War's first "hot war;" the first U.N. war; and the only time troops from the "free world" advanced into a communist state, North Korea. Beijing's shock intervention also marked the first and only battlefield clash between the U.S. and China.
But it ended with an inconclusive armistice, and while North Korea remains 21st century news, the unfinished 1950-53 war lacks much of a cinematic image.
Although Hollywood has produced numerous classics on World War II and Vietnam, perhaps the only memorable Korea-set films are "Pork Chop Hill" (1959) and "MASH" (1970). A 1952 film on Chosin, called "Retreat Hell" barely does the material justice, some believe.
"Korea is too hard to define in Hollywood terms: They put out movies of heroism and derring-do in World War II, or arrogance and stupidity in Vietnam, and people understand," said Don Kirk a veteran, Asia-based U.S. correspondent. "We can't do that with Korea."
"One problem with the Korean War is generational: it happened after 'The Greatest Generation' but before the 'Baby Boomers,'" added Mark Russell, a culture critic and author of "Pop Goes Korea." "So for much of Hollywood, it never really happened."
But poignantly for the war's aging veterans, this year may mark probably its last significant commemoration: July 27, 2013 is the 60th anniversary of its end. The anniversary has raised some hopes for a filmic treatment.
"I'm disappointed that Hollywood hasn't done a feature film on this largely overlooked battle," said Wiedhahn. "It would contain drama, horror and suspense, and would be a major attraction on the 60th anniversary of the armistice."
Since December, Iglesias and business partner Anton Sattler, another ex-marine, have raised more than $30,000 on Kickstarter, a fundraising website, to produce a 3-D animated short on the battle, and are finalizing a graphic novel.
"There is a collective purpose with our Chosin products: Create awareness," Iglesias said. "We decided to continue the story on different platforms."
Iglesias' passion for Chosin is such that, with his proposed movie having just a "50-50" chance of production, he would applaud competing projects.
"If someone else makes this movie, I'll support them," he said. "For the Korean War, there's not enough consciousness."