The story is set in the Joseon Dynasty during the reign of King Yeonsan, an infamously tyrannical monarch. Jang-saeng, a member of the Namsadang Troupe, comes to Hanyang (currently Seoul) with Kong-gil to escape the abuse of powerful aristocrats. After arriving in the capital, Jang-saeng and Kong-gil perform a skit satirizing the King and his concubine Nok-su, quickly attracting attention. The palace learns of it, and they are arrested. While enduring excruciating torture, Jang-saeng raves that if given the chance, he could make the King laugh. Fortunately, he is given the chance to prove himself. Performing before the ruler makes the jesters nervous, and despite Jang-saeng’s best efforts, the King doesn’t laugh. But when Kong-gil appears in drag, playing the role of a shrewd woman, the king cannot control his laughter. The two are appointed as royal jesters, and from then on, live a life of luxury. Their parodies satirize the corruption of public officials, which keeps the King in a jovial mood. On the other hand, members of the court who are depicted in the jester’s skits are severely punished. At a royal banquet, the jesters perform a Korean opera depicting feminine rivalry. This awakens in the King painful memories of his mother, and he puts all of his late father’s royal concubines to the sword. Troubled that their comedic skits invariably lead to bloodshed, the jesters decide to leave. For some reason, however, Kong-gil wants to stay.

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