In the 1970s, during the height of political corruption, Gangnam (Seoul), the southern part of Seoul, is starting to be transformed into a developed area. Childhood friends Jong-dae and Yong-ki struggle to get by, until their shanty homes are demolished by kkangpae. Desperate for cash, they get involved in violent political clashes, and are separated during one of the skirmishes. Three years later, Jong-dae lives as an adopted son of former gang leader Gil-soo and unknown to him a small-time gangster. Meanwhile, Yong-ki has raised as a made man inside Seoul's most powerful criminal organization, the Myeongdong-pa under Yang Ki-taek. Jong-dae meets foxy Min Seong-hee and is entangled in real estate business from tips Min Seong-hee gets from Park Seung-gu they enter into bigger business. Jong-dae finally meets Yong-ki and they together hatch plans to co-operate and become rich. Min Seong-hee introduces Jong-dae to a disgraced politician, Seo Tae-gon, who still has political controls and they plan to raise him back to the political arena. They enter high-stakes battle going over land in Gangnam, by other political parties to fund secret presidential election and slush funds and drives up the plot-value of the city from inside information about future plan to turn Gangnam as an extended part of the capital. As the gangs fight over the rights to various plots and to maintain power structure, Yong-ki betrays his people and eliminates opposition with Jong-dae. Yong-ki who had to save his skin from suspicion of his boss kills Gil-soo. Jong-dae realizes this and keeps an eye on him. Meanwhile, Yong-ki's gang motivates him to overthrow Jong-dae and take over the whole operation when it is all over. After Seo Tae-gon's final mission they face each other and Jong-dae threatens Yong-ki to disappear and eliminates his gang members. Seo Tae-gon, to turn a new leaf in his career, recruits two new goons as his henchmen and puts them in charge to assassinate both Jong-dae and Yong-ki