Episode 5 of "Aema" unfolds in the vibrant atmosphere of the 1982 New Year celebrations. The police officers, all avid admirers of Hee-ran, let her off with a warning while Jung-ho remains confined within the precinct's walls. Seizing the moment, Hee-ran sneaks into Jung-ho's residence with the intent of destroying her contract. Instead, her eyes fall upon his ledger, revealing that he is paid in gold for hosting decadent parties and exploiting his actresses. Enraged, she rips out the page that mentions her and Ju-ae. However, her surprise is shattered when Jung-ho arrives unexpectedly, leading to a violent confrontation. In a fit of rage, he savagely beats her and sets the ledger ablaze. Heartbroken and furious, Hee-ran shoots him in the shoulder.
Desperate to retaliate, Jung-ho insists on a re-edit of "Madame Aema," disliking Hee-ran's depiction that transforms the women into empowered figures. Kwak attempts to stand firm in his conviction, but to no avail. Later that evening, Choi escorts Mi-na to another party, determined to protect her. She, however, attempts to seduce him, much to his displeasure. He responds aggressively, mocking her for her promiscuous nature. Tears streaming down her face, Mi-na realizes that this is the only path to advancement in her world.
The party proves to be even more wild than Ju-ae's, with VIPs who are young and uninhibited, showing no pretense of civility. Mi-na handles the chaos with composure, but she loses all control when the main VIP drugs her and rapes her. Overdosing on drugs, she succumbs to her fate.
Hee-ran and Kwak watch Jung-ho's crass version of the film, which culminates in Aema choosing Yun-ho and sex. Hee-ran is filled with regret for not finishing Jung-ho off. She urges Kwak to go beyond merely standing his ground; he must fight dirty. With that, she storms out, seeking some fresh air.
Meanwhile, Geun-ha presents Ju-ae with a luxurious red car, claiming it's his way of making the world pay. However, Ju-ae is far from pleased, believing that she has already lost her dignity and doesn't want Geun-ha to sacrifice his. She hides in the stables, where she encounters Hee-ran.
Hee-ran and Yeong-bae, having stolen the film reels, make their way to the woods near the stables. She brings Ju-ae along, believing that she deserves to be a part of this momentous act.
Gi is instantly alerted to the vanishing reels, while Kwak is visibly disturbed by Hee-ran's drastic measures. He deciphers her parting shot and, unfortunately, speculates her whereabouts. Driven by the desire to avoid humiliation, Hee-ran intends to torch the reels, recalling how Jung-ho incorporated a degrading, vulgar scene into her debut film, which she discovered while watching it in a theater. Ju-ae, empathetic towards Hee-ran's plight and still grateful for the night with the VIP, willingly assists by pouring gasoline over the films herself. Despite the circumstances, she cherishes the experience. The scene shifts to Gi and Kwak dashing through the woods, just in time to intervene. Kwak breaks down, emphasizing that despite its flaws, he poured his heart and soul into this project—his maiden venture into filmmaking. Hee-ran acknowledges his pain and returns the reels to him. They mutually apologize for failing the film and Hee-ran, though humiliated, concurs that the movie has the potential to become a sensation. She counsels Ju-ae to adopt her shallow demeanor as a shield against the impending fame.
At the mortuary, Jung-ho maintains a calm demeanor as he identifies Mi-na's body, hinting at a lingering remorse. His lack of enthusiasm when Choi proposes to premiere 'Madame Aema' as the country's first midnight screening underscores this. On opening night, Kwak and Ju-ae are disheartened as the audience erupts in laughter. Hee-ran storms away in disgust, while Ju-ae's friends feel embarrassed for her. Ju-ae shares their embarrassment but wishes they had offered her their support instead.
That fateful night, as Ju-ae's peers conversed amongst themselves, they couldn't help but acknowledge her cool demeanor. Sure enough, the movie skyrocketed to fame, catapulting Ju-ae into stardom. Ms. Gil, however, demanded a refund, accusing Ju-ae of altering or swapping her outfits. In a slip of the tongue, she revealed she had paid an astonishing 2 million, prompting Gi to realize it was all due to Geun-ha's machinations.
Jung-ho pressed Kwak to ink an exclusive five-film deal, but for once, Kwak stood his ground and made his own demands clear.
Ju-ae's troubles were merely beginning. The Daejong reporter, a familiar face from her nightclub days, confronted her. She had been dodging him, but now he insisted on an exclusive story in exchange for nominating her for his network's prestigious award show. Meanwhile, Paul began to question Hee-ran's suitability as his muse, finding her elegance and traditionality somewhat lacking. Ju-ae's fierce image was everywhere, leading Paul to ponder if it was time for a change.
Hee-ran too was nominated, and Kwak revealed that Jung-ho had agreed to rerelease the film with Hee-ran's cut after the awards ceremony. Though grateful, Hee-ran couldn't shake the bitterness as she read about Director Kwon receiving a prestigious honor.
Jung-ho then extended an exclusive contract to Ju-ae, asserting that her fame would wane unless she remained with a major studio like his. Torn between choices, Ju-ae didn't commit.
Separately learning of Mi-na's passing, Hee-ran and Ju-ae both attended the funeral, the only attendees besides Mi-na's family. Like Ju-ae, Mi-na had kept a poster of Hee-ran. They discussed identity, dreams, and how fragile they could be. Hee-ran wept, then left to confront Jung-ho, vowing to make him pay. He tried to mock her, but she declared herself a witness to his crimes, unfazed by the prospect of her own downfall if it meant bringing him down too.
