Molka

Set in contemporary Seoul, South Korea, Molka follows two intertwined storylines against the backdrop of the country's molka epidemic, a term for the widespread illegal use of hidden spy cameras to capture voyeuristic footage of women without their consent.

Junyoung, an IT worker in a Seoul office building, has secretly installed tiny cameras in the women's restrooms on multiple floors. From his basement cubicle, he monitors approximately forty feeds while handling support calls, his coworkers oblivious. Flashbacks reveal the roots of his voyeurism: as a middle schooler, he regularly spied on a female neighbor, and when she confronted his father, the man dismissed her complaints, calling the behavior natural. His father taught him that women are inherently weak before abandoning the family.

On another floor works Dahye, a financial analyst dating Jang Hyukjoon, the second son of the CEO of YS Media Group, South Korea's biggest entertainment company. After an extravagant dinner, Dahye returns home to find her mother furious that she forgot the anniversary of her older sister Eunhye's death five years earlier. Dahye has lived in Eunhye's shadow ever since, tormented by guilt over her role in her sister's death.

Through flashbacks, the sisters' history unfolds. As a teenager, Dahye discovered Eunhye's secret diary, which revealed that Eunhye had been seeing an older boy named Jihoon, had gotten pregnant, and had been abandoned by him. Jealous and eager to expose her sister's flaws, Dahye gave the diary to their father. Eunhye came home, saw the diary in his hands, and fled. Four days later, her body was found in the Han River.

Dahye met Hyukjoon through Bora, her best friend, outside a karaoke bar. Their relationship deepened quickly, with Hyukjoon showering her with expensive gifts and dinners. She begins experiencing unsettling phenomena: visions resembling Eunhye, the sensation of being watched, and wet footprints on dry pavement near her apartment.

Meanwhile, Junyoung encounters Dahye in the office cafeteria and becomes obsessed. She later visits his cubicle for computer help, and they agree to have lunch together. That evening, his coworker Kangmin discovers the camera feeds and begins blackmailing him, demanding videos in exchange for silence.

Dahye's world shatters when Hyukjoon reveals that a sex tape of them was found in a molka chatroom and sent to his father by a private investigator. He tells Dahye his father has booked him a flight to New York and refuses to take her. Alone in the hotel room, she sees a monstrous, blue-skinned figure with dripping wet hair: her first clear apparition of Eunhye's ghost.

The scandal breaks publicly. Dahye spirals, missing work and unable to reach Hyukjoon, whose phone goes to voicemail or disconnects. Bora retrieves her from the hotel. When Dahye returns to her parents' home, her mother berates her for missing work and, suspecting a man is involved, throws her out. Back at Bora's apartment, Bora reveals the full truth: Hyukjoon himself recorded and shared the videos. He belonged to a chatroom where members exchanged footage of women, some of whom were drugged and assaulted. Leaked screenshots show him mocking Dahye's body and boasting about drugging other women.

That night, Eunhye's ghost fully manifests, emerging from a bathroom vent as a waterlogged figure with petechiae, pinpoint bruises from broken blood vessels, on her eyelids. She tells Dahye she has been trying to protect her and has unfinished business tied to both Jihoon and Dahye. The sisters reconcile: Dahye apologizes for the diary, and Eunhye tells her it was not her fault. They confess their mutual jealousies, Dahye envying Eunhye's favored status and Eunhye having envied Dahye's freedom from their parents' expectations. Dahye wakes on the bathroom floor and tells Bora she is ready to go to the police.

Inspector Kang at the police station dismisses their case, suggesting the screenshots could be fabricated. Dahye privately requests Eunhye's case file, which classifies the death as noncriminal with no follow-up investigation and no mention of Jihoon. Meanwhile, Junyoung uses his administrative access to find Dahye's home address, visits her family's apartment building, and overhears that she is staying with Bora. At work, he frames Kangmin by planting the cameras in Kangmin's desk, resulting in Kangmin's suspension.

Dahye visits Hyukjoon's family home and discovers his car parked outside, confirming he never left Seoul. She finds an Instagram post revealing his engagement to Lee Seoyeon, a billionaire's daughter he has reportedly been dating for five years. After quitting her job and falling out with Bora, Dahye moves into a decrepit apartment alone. Eunhye's ghost urges her to act.

Bora emails Dahye information about a molka support group. Despite her anger, Dahye attends and receives a kit containing an ice pick used for detecting hidden cameras. She installs a GPS tracker on Hyukjoon's car and begins following him. At a nightclub in Itaewon, a man who bought Dahye a drink follows her into the restroom and attempts to sexually assault her. Eunhye intervenes, and Dahye shoves the man; he slips on the wet floor and cracks his head on the toilet, dying from the impact.

Dahye tracks Hyukjoon to a bar, witnesses him arguing with Seoyeon, and approaches him after Seoyeon storms off. Pretending to believe his lies, she lures him to her apartment and asks him to record them on his phone. When he closes his eyes, she retrieves a cleaver hidden under the mattress. With Eunhye urging her on, Dahye severs Hyukjoon's penis and kills him by driving the ice pick into his throat. She scrolls through his phone, finds hundreds of voyeuristic videos of other women, and sends fabricated breakup texts to Seoyeon from his number.

Junyoung, who watched Hyukjoon enter the apartment, follows Dahye as she disposes of a suitcase of bloody clothing off a bridge into the Han River. He retrieves it and finds bloodstained clothes and a severed finger. He later breaks into her apartment and discovers the severed penis in the refrigerator, photographing it as leverage.

When Dahye returns, Eunhye alerts her to the intruder. Dahye traps Junyoung at knifepoint and discovers his voyeuristic bathroom videos, including footage of her. Police officers arrive investigating Hyukjoon's disappearance, and Dahye hides Junyoung in the closet. He frees himself, and when the officers find him, Eunhye's ghost attacks one of them. Dahye lunges toward Junyoung, and the other officer fires, striking Dahye in the chest. She dies laughing.

Junyoung wakes in the hospital, celebrated as a national hero. When he asks the officers about the voyeuristic videos on his phone, they laugh and assure him no one will find out. He receives an Employee of the Year trophy and promptly reinstalls the hidden cameras, keeps all the footage, and continues mistreating his mother.

Months later, Junyoung steps into the street after a night at a bar and is struck by a car that accelerates toward him. The driver is Bora. She tells him he will die alone and burn in hell. As he lies dying in the gutter, the ghosts of Dahye and Eunhye appear and sing together. On a nearby street corner, a surveillance camera blinks, but the security guard monitoring the feed is asleep.