In 1930s Manchuria, an encounter on a train triggers an epic crusade for a treasure map, prompting a marathon chase in hot pursuit of the loot. Do-won, "The Good", is a bounty hunter, out to track down Chang-yee, "The Bad", a charismatic hit man attempting to steal the map from a military official. However, the ruthless Tae-goo puts a hitch in both their plans when he secures the map for himself.

Recounts the legend of Robin Hood, who plundered the king's purse and poached his deer. However, the generosity to the poor and braveness of Robin Hood became a legend.