Answering the biggest question surrounding Shadow of the Colossus for PlayStation 4, Sony Worldwide Studios President Shuhei Yoshida clarified that it’s a remake, not a remaster.
Speaking with Famitsu (translated by Siliconera), Yoshida explained that developer Bluepoint Games (Uncharted: The Nathan Drake Collection, Gravity Rush Remastered) is remaking all of the assets, but keeping the content the same as the PS2 version:
It is a remake. The game content is the same as the original version, but all the assets are being remade. I figured we could use such tech to make if we’re going to make Shadow of the Colossus in the PS4 era. Bluepoint is the development company behind the PS3 remaster versions of ICO and Shadow of the Colossus. So we know them rather well.
While all of the content is the same, Yoshida says to expect modern controls:
[The content is the same as the PS2 version], but player preferences for controls and such change over time, so we’re working on implementing a more modernized way to play. And of course you can play with a feel of the original version, but what we’re doing is showing how great the original work is, using today’s technology. [Lead Designer Fumito Ueda] wasn’t that involved much this time.
Shadow of the Colossus for PS4 is scheduled to release in 2018.
YouTube user Cycu1 did a comparison of the PS3 remaster and PS4 trailer: