Nak-wol Island is isolated from the outside world. Choi, a wealthy man, and a few fishing boat owners take complete control of the island. They grab all the fish that is caught and start a rumor blaming the poor catch on the water spirit Myung-ba-wi. Then they lend money to the villagers and use it to control them. Jong-cheon and Kwi-deok try to revive the island but the villagers who owe Choi money either leave or are killed. Jong-cheon defeats Choi's men but he is killed by sorceress Chung Baek. Kwi-deok finally has a baby, the son of Jong-cheon, and peace returns to Nak-wol Island. (kmdb)