At a provincial university's film and theater department, Park Sang-min, who teaches film, is also a film director.
Sang-min accumulated a significant amount of debt while making movies, eventually coming under threat from loan sharks.
In the midst of this crisis, loan shark Man-bok approaches Sang-min and proposes a deal: if Sang-min makes a film about Man-bok's life, Man-bok will help him pay off his debt. Sang-min accepts the offer, and as they work
Afterward, "Sang-min" embarks on a journey with "Man-bok," experiencing events that blur the lines between dream and reality. The ultimate film they always wanted to create becomes their last reel.