The movie starts with the suicide of the protagonist and uses reverse chronology to depict some of the key events of the past 20 years of his life that led to his death.
The events of Yong-ho's life that are shown in the movie can be seen as representing some of the major events of Korea's recent history. The student demonstrations of the early 1980s leading to the Gwangju Massacre are shown, as Yong-ho becomes traumatized by the shooting incident.
The tightening grip on the country by the military government during the 1980s is mirrored by Yong-ho losing his innocence and becoming more and more cynical during his stint as a brutal policeman. Similarly, Yong-ho losing his job during the late 1990s mirrors the Asian financial crisis.