Episode 1 of Season 1 of "Low Life" transports us back to the year 1323, where a merchant ship, laden with 8 million coins and 20,000 priceless pieces of pottery from the Song and Yuan dynasties, sinks tragically off the coast of Sinan during its voyage from China to Hakata. The narrative then jumps to 1962, where we encounter a young Hee-dong, beset by harassment from two overbearing police officers. These officers are in relentless pursuit of Hee-dong's father, rumored to hold anti-government sentiments. In steps Hee-dong's uncle, Gwan-seok, who deftly intervenes, bribing the officers to scurry away. Subsequently, Gwan-seok offers Hee-dong a sum of money, imparting the wisdom that the world operates on human connections.
Their bond grows ever stronger, as Gwan-seok initiates Hee-dong into the deceitful and thieving world of cons. However, their fortune takes a nosedive when both are apprehended and handed prison sentences. Incarcerated, they reunite with Gwan-seok's former acquaintance, Song Ki-taek, an antique smuggler and master con artist. Upon his release, Ki-taek secretly urges Gwan-seok to meet him upon completing his own sentence.
Gwan-seok, known for his tenacity and wide network of connections, brings Ki-taek's job offer to Hee-dong, who is hesitant to embark on another illegal venture. Hee-dong harbors dreams of serving his sentence and marrying his sweetheart. Gwan-seok, however, believes Hee-dong would fare better by duping wealthy women in love scams – a notion not entirely unfounded given Hee-dong's charming appearance.
Post-incarceration, Hee-dong's marriage plans are shattered when his girlfriend breaks his heart. Gwan-seok taunts him for placing too much faith in love, successfully persuading Hee-dong to join him. They subsequently visit Ki-taek at his antique shop.
Wasting no time, Ki-taek reveals his intention to hire them for retrieving pottery from the waters off Sichan, promising an upfront payment of 400,000 Won. This sparks Gwan-seok's curiosity, though he maintains a calm demeanor. Later, he compels Hee-dong to visit his residence to further discuss the proposal. Despite Hee-dong's reluctance to step into Gwan-seok's house, his uncle insists, dragging him along. Hee-dong despises Gwan-seok's rituals, which involve scolding the children and preparing them for the next day. Once Gwan-seok concludes his household duties, the pair sit down over drinks to evaluate the offer, the scene coming alive with anticipation and intrigue.
Gwan-seok harbors suspicions that Ki-taek's proposition holds deeper implications. He scorns the meager compensation, contemplating that they might be better served by pilfering a few artifacts for their personal gain. With this in mind, he dispatches Hee-dong to Mokpo to gauge whether the treasure has garnered wider interest.
In Mokpo, Hee-dong's path crosses with Madam Jang, Gwan-seok's distant cousin, and a young woman named Seon-ja. Madam Jang introduces Hee-dong to three captains, who collectively affirm that the treasure is no longer a closely guarded secret. An official expedition, sent by the government, had already explored the site but aborted their mission after unearthing mere fragments. The treasure had become a town-wide sensation, even drawing the President for a photo-op with the retrieved relics. However, the captains are divided on whether more treasures lie dormant beneath the waves.
Fed up with the captains' discordant views, Hee-dong decides to leave and contacts Gwan-seok. Smitten by Seon-ja, Hee-dong eagerly urges Gwan-seok to seize the opportunity, convinced that the residents of Mokpo remain oblivious to the treasure's true value, presenting a ripe opportunity for exploitation. Overhearing his conversation, Seon-ja warns Hee-dong that the captains are compensating her to keep tabs on him. She instead proposes striking a deal between them.
As their negotiations unfold, a group of men attempt to intimidate Hee-dong and Seon-ja, but Madam Jang swiftly intervenes, dispatching them.
Meanwhile, back in Seoul, Gwan-seok pays a visit to Ki-taek's shop and stumbles upon a note left by an anonymous individual, hinting at Ki-taek's meeting with Chairman Cheon. The next day, Gwan-seok shadows Ki-taek discreetly and unexpectedly encounters Chairman Cheon's wife, Jung-sook, in an elevator. Soon after, Gwan-seok confronts Ki-taek, leading to a reevaluation and renegotiation of their earlier agreement under newfound scrutiny.
This time around, Ki-taek reveals a startling piece of information: Chairman Cheon has generously pledged to foot the bill for the pottery, regardless of the mission's outcome. Furthermore, Ki-taek has been diligently working on crafting an additional set of pottery, just in case their mission takes an unexpected turn. Gwan-seok, sensing an opportunity too good to pass up, suggests they aim for the stars and make a substantial profit, given Chairman Cheon's deep pockets.
With these new arrangements in place, Ki-taek later convenes with Gwan-seok and Hee-dong, handing over a sum of 1 million Won. To their astonishment, he insists that Dae-sik, one of his most trusted men, accompany them on the journey. Hee-dong, immediately taking a dislike to Dae-sik, begins to taunt and bully him. Meanwhile, Gwan-seok, albeit reluctantly, agrees to the arrangement, lured by the promise of significant financial rewards.
Despite their mistrust towards Ki-taek, Hee-dong and Gwan-seok agree to undertake the mission. Ki-taek further enlightens them about Chairman Cheon's background, revealing that the chairman rose from humble beginnings, barely literate, but through sheer business prowess, built an empire. After the passing of his first wife, Chairman Cheon married Jung-sook, a formidable woman in her own right—sharp-witted, educated, and instrumental in expanding his empire. She persuaded him to establish a school and now they aspire to construct a high-profile museum that will elevate their school's social status.
At Chairman Cheon's residence, Jung-sook persuades him to bid the men farewell before their departure for Mokpo. However, Chairman Cheon insists that Jeon Chul, Jung-sook's right-hand man, join the team. Once again, Hee-dong's disdain for a new member rears its ugly head, and he continues to behave rudely. As the team begins to bond, Chairman Cheon pulls Ki-taek aside for additional instructions.
Subsequently, Ki-taek takes Gwan-seok aside and assigns him one final task in Mokpo. On their way back home, Jung-sook vents her frustration over Jeon-chul's departure, while the chairman dismisses her concerns as oversensitivity and offers his driver to her as a compensation.
Meanwhile, tensions escalate on the train ride to Mokpo. Jeon-chul provokes a fellow passenger, leading to a fierce altercation that electrifies the atmosphere.
