The Waves of Winter captures the story of a woman returning to her hometown, which she neglected for many years, and a man who follows her traces.

In 1909, several years after Korea is forced into becoming a Japanese colony, freedom fighters plot the daring assassination of Japan's prime minister during their quest for independence.

An artist features work based on the death of a former colleague Yoon-min for a retrospective on Yoon-min. The choreographer, brought in to collaborate on the project, soon begins to question the artist's integrity. Is the work a genuine act of sincere mourning, or is it a sensational exploitation?